Image from MarketBeat Media, LLC. Key Points Assenagon Asset Management trimmed its stake in Tesla by 5.7% in Q3 to 3,285,405 shares, leaving Tesla as its 6th largest position and about 2.0% of the fund (≈$1.46 billion). Other institutions moved big: Vanguard holds ~251.4 million shares (~$79.9B), Norges Bank opened a ~$11.84B stake, Kingstone massively increased its position, and institutional investors own about 66.2% of Tesla. Tesla beat Q3 estimates (EPS $0.50 vs $0.48; revenue $28.10B vs $24.98B) but trades at a rich valuation (market cap ~$1.55T, P/E ~311), with analysts' consensus rating at Hold and a $400.86 average price target. Tesla Bulls See $500 Ahead—But Bears Warn of a Painful Reversal Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year. Insider Transactions at Tesla In related news, CFO Vaibhav Taneja sold 2,637 shares of the business's stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $443.93, for a total value of $1,170,643.41. Following the sale, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 56,820 shares of the company's stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 19.90% of the stock is currently owned by company insiders. About Tesla