Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Hudson Canyon Capital Management

Hudson Canyon Capital Management decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,450 shares of the electric vehicle producer’s stock after selling 730 shares during the quarter. Tesla accounts for 2.0% of Hudson Canyon Capital Management’s holdings, making the stock its 13th largest position. Hudson Canyon Capital Management’s holdings in Tesla were worth $3,009,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the 4th quarter worth approximately $46,000. PayPay Securities Corp boosted its stake in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter worth approximately $35,000. Finally, Finley Financial LLC acquired a new position in Tesla in the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $337.80 on Friday. The firm’s 50-day moving average is $400.17 and its 200-day moving average is $312.40. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a PEG ratio of 5.97 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TSLA shares. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial lifted their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Finally, UBS Group lifted their target price on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $326.50.

Tesla Company Profile

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.