Keybank National Association OH Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Keybank National Association OH trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,020 shares of the electric vehicle producer's stock after selling 981 shares during the quarter. Keybank National Association OH's holdings in Tesla were worth $12,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vermillion Wealth Management Inc. raised its position in Tesla by 39.6% during the first quarter. Vermillion Wealth Management Inc. now owns 1,481 shares of the electric vehicle producer's stock valued at $384,000 after acquiring an additional 420 shares in the last quarter. Rossby Financial LCC increased its holdings in shares of Tesla by 72.7% during the 1st quarter. Rossby Financial LCC now owns 1,791 shares of the electric vehicle producer's stock valued at $510,000 after purchasing an additional 754 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in Tesla by 16.5% during the first quarter. DAVENPORT & Co LLC now owns 47,341 shares of the electric vehicle producer's stock worth $12,269,000 after buying an additional 6,721 shares in the last quarter. Sageworth Trust Co grew its position in Tesla by 18.4% during the first quarter. Sageworth Trust Co now owns 16,946 shares of the electric vehicle producer's stock valued at $4,392,000 after buying an additional 2,635 shares during the period. Finally, Summit Trail Advisors LLC increased its holdings in Tesla by 34.1% in the first quarter. Summit Trail Advisors LLC now owns 51,052 shares of the electric vehicle producer's stock valued at $13,231,000 after buying an additional 12,986 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSLA. Oppenheimer restated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Raymond James Financial downgraded Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Royal Bank Of Canada cut their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Glj Research reiterated a "sell" rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Finally, Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and an average target price of $301.24.

Tesla Trading Down 0.7%

TSLA traded down $2.09 during trading hours on Thursday, reaching $313.56. The company's stock had a trading volume of 58,042,302 shares, compared to its average volume of 101,397,730. The stock has a market cap of $1.01 trillion, a PE ratio of 172.29, a P/E/G ratio of 11.41 and a beta of 2.39. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week 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. The business's 50-day moving average is $319.28 and its 200-day moving average is $328.10.

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

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last quarter. 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.