Huntington National Bank Sells 28,857 Shares of Tesla, Inc. (NASDAQ:TSLA)

Huntington National Bank decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,367 shares of the electric vehicle producer’s stock after selling 28,857 shares during the period. Huntington National Bank’s holdings in Tesla were worth $66,782,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. World Investment Advisors LLC raised its holdings in Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management raised its stake in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC boosted its position in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the last quarter. MML Investors Services LLC increased its holdings in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Morgan Stanley dropped their price target on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Monday, February 10th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Finally, Mizuho lowered their price objective on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $317.75.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $268.46 on Wednesday. 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 firm has a market cap of $863.51 billion, a PE ratio of 131.60, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm’s 50 day simple moving average is $314.87 and its 200-day simple moving average is $323.48. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. Company 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.