OLD National Bancorp IN Sells 1,759 Shares of Tesla, Inc. (NASDAQ:TSLA)

OLD National Bancorp IN reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,463 shares of the electric vehicle producer's stock after selling 1,759 shares during the quarter. OLD National Bancorp IN's holdings in Tesla were worth $3,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TSLA. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla in the fourth quarter worth $56,600,000. Strategic Family Wealth Counselors L.L.C. lifted its stake in Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. acquired a new position in shares of Tesla during the 4th quarter valued at about $8,158,000. Vontobel Holding Ltd. increased its holdings in shares of Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after buying an additional 60,342 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Tesla by 451.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer's stock worth $115,143,000 after acquiring an additional 233,460 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the transaction, the chief financial officer now directly owns 5,924 shares of the company's stock, valued at approximately $1,692,546.04. This trade represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock worth $273,791,775 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $7.32 during mid-day trading on Thursday, hitting $319.11. The company had a trading volume of 104,392,972 shares, compared to its average volume of 100,677,591. The firm has a market cap of $1.03 trillion, a P/E ratio of 156.43, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 12 month low of $169.80 and a 12 month high of $488.54. The business's 50-day simple moving average is $295.60 and its 200-day simple moving average is $333.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Morgan Stanley reissued an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Deutsche Bank Aktiengesellschaft lowered their target price on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Benchmark restated a "buy" rating and set a $350.00 target price on shares of Tesla in a research report on Wednesday, April 23rd. Canaccord Genuity Group dropped their price objective on Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Raymond James downgraded Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $293.67.

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.