Bank of New York Mellon Corp Has $6.88 Billion Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Bank of New York Mellon Corp lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,026,158 shares of the electric vehicle producer’s stock after selling 167,966 shares during the quarter. Tesla comprises 1.3% of Bank of New York Mellon Corp’s holdings, making the stock its 10th biggest position. Bank of New York Mellon Corp’s holdings in Tesla were worth $6,875,844,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla during the third quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the 4th quarter valued at approximately $46,000. PayPay Securities Corp lifted its stake in Tesla by 130.2% during the fourth 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 last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $281.95 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market capitalization of $906.90 billion, a PE ratio of 138.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The firm has a fifty day simple moving average of $387.91 and a two-hundred day simple moving average of $315.28. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Wednesday, February 12th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $319.57.

Tesla 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.