Huntington National Bank Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Huntington National Bank trimmed its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,367 shares of the electric vehicle producer's stock after selling 28,857 shares during the quarter. Huntington National Bank's holdings in Tesla were worth $66,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of TSLA. Hengehold Capital Management LLC boosted its position in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock worth $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after buying an additional 24 shares during the last quarter. Acropolis Investment Management LLC grew its position in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock valued at $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD increased its holdings in Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after buying an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its position in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

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Tesla Trading Down 10.4 %

Shares of Tesla stock traded down $27.85 on Friday, reaching $239.43. The company had a trading volume of 180,231,397 shares, compared to its average volume of 94,269,783. The firm has a market cap of $770.13 billion, a price-to-earnings ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm's 50-day moving average price is $305.98 and its two-hundred day moving average price is $323.56. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TSLA shares. StockNews.com downgraded shares of Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Monday, February 10th. Royal Bank of Canada decreased their price objective on Tesla from $440.00 to $320.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Canaccord Genuity Group reiterated a "buy" rating and set a $404.00 price objective on shares of Tesla in a research note on Monday, March 17th. Finally, HSBC decreased their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $312.65.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. 20.70% of the stock is owned by company insiders.

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.