Bahl & Gaynor Inc. Sells 311 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bahl & Gaynor Inc. reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,880 shares of the electric vehicle producer’s stock after selling 311 shares during the period. Bahl & Gaynor Inc.’s holdings in Tesla were worth $570,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Norges Bank acquired a new position in Tesla in the fourth quarter valued at about $7,844,757,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in shares of Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after acquiring an additional 135,966 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Tesla Trading Up 0.7 %

TSLA opened at $229.81 on Friday. The stock has a market capitalization of $734.16 billion, a P/E ratio of 58.63, a P/E/G ratio of 5.57 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The firm’s fifty day simple moving average is $223.80 and its 200 day simple moving average is $194.45.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TSLA shares. Citigroup dropped their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Roth Mkm reiterated a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Stifel Nicolaus assumed coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a report on Monday. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $209.03.

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.