Share on Stocktwits Assenagon Asset Management S.A. cut its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 5.7% in the third quarter, HoldingsChannel reports. The firm owned 3,285,405 shares of the electric vehicle producer’s stock after selling 198,231 shares during the quarter. Tesla makes up about 2.0% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 6th biggest position. Assenagon Asset Management S.A.’s holdings in Tesla were worth $1,461,085,000 as of its most recent SEC filing. Get Tesla alerts: Other hedge funds have also recently added to or reduced their stakes in the company. Chapman Financial Group LLC purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $26,000. Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in Tesla during the 2nd quarter worth $29,000. CoreFirst Bank & Trust purchased a new stake in Tesla in the second quarter valued at $30,000. Finally, ESL Trust Services LLC boosted its position in shares of Tesla by 1,900.0% in the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock. Insider Activity In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 19.90% of the company’s stock. Analyst Ratings Changes TSLA has been the topic of a number of recent research reports. CICC Research lifted their price objective on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. Canaccord Genuity Group cut their target price on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, China Renaissance upped their price target on shares of Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $400.86. View Our Latest Stock Analysis on TSLA Tesla Price Performance TSLA stock opened at $467.26 on Thursday. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 311.51, a price-to-earnings-growth ratio of 12.24 and a beta of 1.87. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $495.28. The stock’s fifty day simple moving average is $437.67 and its 200-day simple moving average is $378.86. Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year. Tesla Profile