Hyperion Asset Management Ltd Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Hyperion Asset Management Ltd decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 24.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,170,424 shares of the electric vehicle producer’s stock after selling 381,513 shares during the quarter. Tesla comprises approximately 15.7% of Hyperion Asset Management Ltd’s investment portfolio, making the stock its largest position. Hyperion Asset Management Ltd’s holdings in Tesla were worth $472,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of TSLA. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. increased its stake in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC purchased a new position in Tesla in the fourth quarter worth about $37,000. CoreFirst Bank & Trust bought a new position in shares of Tesla in the fourth quarter worth approximately $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $39,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Argus set a $410.00 price objective on Tesla in a research report on Thursday, April 24th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, Raymond James downgraded shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $287.46.

Tesla Stock Performance

NASDAQ:TSLA opened at $298.05 on Friday. The company has a market cap of $960.01 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The stock’s 50 day simple moving average is $258.65 and its two-hundred day simple moving average is $327.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the business earned $0.45 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,623 shares of company stock valued at $114,400,501 in the last ninety days. Insiders own 20.70% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.