Bahl & Gaynor Inc. Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Bahl & Gaynor Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,433 shares of the electric vehicle producer’s stock after selling 298 shares during the period. Bahl & Gaynor Inc.’s holdings in Tesla were worth $853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Walkner Condon Financial Advisors LLC grew its position in Tesla by 12.0% during the third quarter. Walkner Condon Financial Advisors LLC now owns 2,169 shares of the electric vehicle producer’s stock valued at $543,000 after buying an additional 233 shares during the period. Trust Co. of Toledo NA OH grew its position in Tesla by 24.8% during the third quarter. Trust Co. of Toledo NA OH now owns 3,834 shares of the electric vehicle producer’s stock valued at $959,000 after buying an additional 761 shares during the period. Country Club Bank GFN grew its position in Tesla by 4.9% during the third quarter. Country Club Bank GFN now owns 7,171 shares of the electric vehicle producer’s stock valued at $1,767,000 after buying an additional 336 shares during the period. Walter & Keenan Wealth Management LLC IN ADV grew its position in Tesla by 13.5% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 1,036 shares of the electric vehicle producer’s stock valued at $259,000 after buying an additional 123 shares during the period. Finally, Covenant Partners LLC grew its position in Tesla by 274.8% during the third quarter. Covenant Partners LLC now owns 3,493 shares of the electric vehicle producer’s stock valued at $874,000 after buying an additional 2,561 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 1.1 %

TSLA stock opened at $168.29 on Friday. The company has a market capitalization of $536.71 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 4.45 and a beta of 2.39. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company’s 50 day moving average price is $175.04 and its two-hundred day moving average price is $207.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. As a group, analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TSLA shares. Redburn Atlantic started coverage on shares of Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday. Canaccord Genuity Group cut their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Canaccord Genuity Group cut their target price on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Friday, April 19th. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $186.70.

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.