Independence Bank of Kentucky lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,882 shares of the electric vehicle producer’s stock after selling 65 shares during the period. Independence Bank of Kentucky’s holdings in Tesla were worth $331,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of TSLA. Morningstar Investment Services LLC grew its stake in shares of Tesla by 19.4% in the third quarter. Morningstar Investment Services LLC now owns 4,211 shares of the electric vehicle producer’s stock worth $1,038,000 after acquiring an additional 683 shares during the last quarter. Ancora Advisors LLC grew its position in Tesla by 3.2% during the 3rd quarter. Ancora Advisors LLC now owns 5,086 shares of the electric vehicle producer’s stock valued at $1,273,000 after purchasing an additional 156 shares during the last quarter. Gotham Asset Management LLC raised its holdings in Tesla by 8.3% in the third quarter. Gotham Asset Management LLC now owns 30,414 shares of the electric vehicle producer’s stock worth $7,610,000 after buying an additional 2,325 shares during the last quarter. Richard Bernstein Advisors LLC lifted its stake in shares of Tesla by 5.6% in the third quarter. Richard Bernstein Advisors LLC now owns 60,947 shares of the electric vehicle producer’s stock worth $15,250,000 after buying an additional 3,213 shares in the last quarter. Finally, Kinloch Capital LLC grew its holdings in shares of Tesla by 41.4% during the third quarter. Kinloch Capital LLC now owns 2,532 shares of the electric vehicle producer’s stock valued at $634,000 after buying an additional 741 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.
Insider Buying and Selling at Tesla
In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock valued at $19,285,643 in the last three months. 25.10% of the stock is currently owned by corporate insiders.
Tesla Trading Up 0.2 %
Shares of Tesla stock opened at $197.88 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market capitalization of $631.08 billion, a P/E ratio of 50.48, a P/E/G ratio of 4.91 and a beta of 2.32. The company has a fifty day moving average of $177.80 and a 200 day moving average of $191.71.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Stifel Nicolaus began coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. The Goldman Sachs Group restated a “neutral” rating and issued a $175.00 price target on shares of Tesla in a research note on Friday, June 14th. Royal Bank of Canada dropped their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $187.30.
Get Our Latest Stock Analysis on Tesla
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.
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