OLD National Bancorp IN Sells 916 Shares of Tesla, Inc. (NASDAQ:TSLA)

OLD National Bancorp IN cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,859 shares of the electric vehicle producer’s stock after selling 916 shares during the period. OLD National Bancorp IN’s holdings in Tesla were worth $3,888,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC raised its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Clean Yield Group grew its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. raised its position in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent research reports. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research report on Wednesday, July 24th. William Blair started coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. TD Cowen raised their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Finally, China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $210.72.

Tesla Trading Down 0.1 %

Shares of NASDAQ:TSLA opened at $220.70 on Monday. The stock has a market capitalization of $705.06 billion, a PE ratio of 61.99, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The company’s 50-day moving average price is $227.67 and its two-hundred day moving average price is $205.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,661 shares of company stock valued at $16,663,291. 20.70% of the stock is owned by insiders.

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.