BankPlus Trust Department Sells 1,069 Shares of Tesla, Inc. (NASDAQ:TSLA)

BankPlus Trust Department lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,647 shares of the electric vehicle producer's stock after selling 1,069 shares during the quarter. BankPlus Trust Department's holdings in Tesla were worth $945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Vanguard Group Inc. grew its position in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC grew its holdings in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank acquired a new position in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $300.19.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of Tesla stock traded up $3.64 during trading on Friday, reaching $313.51. 78,861,329 shares of the company's stock were exchanged, compared to its average volume of 99,821,912. The firm's 50-day moving average price is $322.60 and its 200 day moving average price is $321.24. The company has a market cap of $1.01 trillion, a P/E ratio of 172.26, a PEG ratio of 9.22 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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 company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period last year, the company posted $0.45 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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.