Sentry Investment Management LLC Sells 4,827 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sentry Investment Management LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,732 shares of the electric vehicle producer's stock after selling 4,827 shares during the quarter. Tesla accounts for about 1.1% of Sentry Investment Management LLC's holdings, making the stock its 13th largest position. Sentry Investment Management LLC's holdings in Tesla were worth $1,745,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Capital Asset Advisory Services LLC lifted its holdings in Tesla by 4.8% during the 1st quarter. Capital Asset Advisory Services LLC now owns 18,577 shares of the electric vehicle producer's stock valued at $5,253,000 after purchasing an additional 859 shares during the last quarter. Swisher Financial Concepts Inc. raised its stake in shares of Tesla by 66.7% in the first quarter. Swisher Financial Concepts Inc. now owns 2,156 shares of the electric vehicle producer's stock valued at $559,000 after acquiring an additional 863 shares during the last quarter. McLean Asset Management Corp grew its position in Tesla by 144.5% during the 1st quarter. McLean Asset Management Corp now owns 2,342 shares of the electric vehicle producer's stock worth $607,000 after acquiring an additional 1,384 shares during the last quarter. Fulton Bank N.A. increased its holdings in Tesla by 10.9% during the 1st quarter. Fulton Bank N.A. now owns 28,680 shares of the electric vehicle producer's stock valued at $7,433,000 after purchasing an additional 2,815 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its position in Tesla by 40.8% in the 1st quarter. ST Germain D J Co. Inc. now owns 1,773 shares of the electric vehicle producer's stock valued at $459,000 after purchasing an additional 514 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho lifted their price objective on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research report on Tuesday, April 22nd. HSBC reduced their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Finally, Benchmark reissued a "buy" rating and set a $350.00 price objective on shares of Tesla in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $293.97.

Tesla Stock Down 3.5%

NASDAQ TSLA traded down $12.22 during trading hours on Wednesday, hitting $332.05. 97,758,015 shares of the company traded hands, compared to its average volume of 98,217,277. The business's 50-day moving average is $289.75 and its 200-day moving average is $334.35. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 162.77, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the company posted $0.45 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 866,393 shares of company stock worth $284,570,654 over the last 90 days. Company insiders own 20.70% of the company's stock.

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.