Kesler Norman & Wride LLC Sells 1,539 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kesler Norman & Wride LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 48.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,641 shares of the electric vehicle producer's stock after selling 1,539 shares during the period. Kesler Norman & Wride LLC's holdings in Tesla were worth $425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank increased its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the first quarter valued at about $27,000. Finally, True Wealth Design LLC increased its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 1.2%

Shares of Tesla stock opened at $313.51 on Friday. The company's fifty day simple moving average is $322.60 and its 200-day simple moving average is $321.24. The stock has a market capitalization of $1.01 trillion, a PE ratio of 172.26, a P/E/G ratio of 9.22 and a beta of 2.39. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TSLA shares. JPMorgan Chase & Co. cut their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Tuesday. HSBC restated a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Oppenheimer restated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Royal Bank Of Canada cut their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus target price of $300.19.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 over the last 90 days. Company insiders own 20.70% of the company's stock.

Tesla 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.

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