Tesla, Inc. (NASDAQ:TSLA) Shares Sold by BankPlus Trust Department

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank lifted its holdings in Tesla by 79.2% in the first 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 last quarter. Newton One Investments LLC raised its stake 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 valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter valued at approximately $27,000. Finally, True Wealth Design LLC raised its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred 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 owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 in the last three months. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of Tesla stock traded down $6.12 during trading on Tuesday, reaching $310.78. The company's stock had a trading volume of 77,018,663 shares, compared to its average volume of 99,422,104. The firm has a market cap of $1.00 trillion, a PE ratio of 170.76, a P/E/G ratio of 9.33 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The business's 50-day moving average price is $323.33 and its 200-day moving average price is $318.52.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm 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 quarter in the prior year, the business earned $0.45 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Glj Research reaffirmed a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Royal Bank Of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $300.19.

Tesla Company 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.