Bahl & Gaynor Inc. Sells 298 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bahl & Gaynor Inc. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.0% in the fourth quarter, Holdings Channel reports. The fund owned 3,433 shares of the electric vehicle producer’s stock after selling 298 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Tesla were worth $853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. International Assets Investment Management LLC raised its holdings in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. raised its holdings in Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after buying an additional 3,453,078 shares during the period. California Public Employees Retirement System raised its holdings in Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock valued at $2,260,039,000 after buying an additional 2,293,344 shares during the period. Morgan Stanley raised its holdings in Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the period. Finally, Northern Trust Corp raised its holdings in Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after buying an additional 909,170 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TSLA shares. Citigroup increased their target price on Tesla from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday. Guggenheim reiterated a “sell” rating and issued a $122.00 target price on shares of Tesla in a research note on Tuesday, April 23rd. Canaccord Genuity Group reduced their target price on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Truist Financial reduced their target price on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, TD Cowen reduced their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.70.

Tesla Price Performance

Shares of TSLA stock opened at $168.29 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The stock’s 50-day moving average is $175.04 and its 200 day moving average is $207.61. The company has a market cap of $536.71 billion, a P/E ratio of 42.93, a PEG ratio of 4.45 and a beta of 2.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the business earned $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Tesla Company 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.