OLD National Bancorp IN Grows Position in Tesla, Inc. $TSLA

Key Points

• OLD National Bancorp IN increased its Tesla shares by 4.9%, owning 15,172 shares valued at approximately $4.82 million after purchasing 709 additional shares in the second quarter.
• Several institutional investors also boosted their Tesla stakes significantly, with increases ranging from 59.7% to 250%, highlighting growing interest among large players.
• Despite a mixed outlook from analysts, Tesla's average target price was noted at $344.40, with ratings varying from "Strong Buy" to "Sell."

OLD National Bancorp IN raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 15,172 shares of the electric vehicle producer's stock after purchasing an additional 709 shares during the period. OLD National Bancorp IN's holdings in Tesla were worth $4,820,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Cherry Tree Wealth Management LLC increased its holdings in 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 holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC raised its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. grew its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Guggenheim reissued a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. China Renaissance restated a "hold" rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Canaccord Genuity Group upped their price target on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. increased their price objective on Tesla from $115.00 to $150.00 in a report on Friday. Finally, The Goldman Sachs Group boosted their target price on Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and an average target price of $344.40.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company's stock.

Tesla Stock Performance

Shares of TSLA opened at $453.25 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a 50-day moving average of $366.57 and a two-hundred day moving average of $324.02. The stock has a market cap of $1.51 trillion, a P/E ratio of 261.99, a P/E/G ratio of 14.93 and a beta of 2.08. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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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