Stock Yards Bank & Trust Co. Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Stock Yards Bank & Trust Co. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,456 shares of the electric vehicle producer’s stock after selling 218 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Tesla were worth $2,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Elite Life Management LLC purchased a new position in shares of Tesla in the 4th quarter valued at about $216,000. Diversified LLC purchased a new position in shares of Tesla in the 4th quarter valued at about $323,000. Greenwich Wealth Management LLC increased its stake in shares of Tesla by 30.9% in the 4th quarter. Greenwich Wealth Management LLC now owns 2,118 shares of the electric vehicle producer’s stock valued at $526,000 after purchasing an additional 500 shares in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in shares of Tesla in the 4th quarter valued at about $310,000. Finally, MCF Advisors LLC increased its stake in Tesla by 8.3% during the 4th quarter. MCF Advisors LLC now owns 2,908 shares of the electric vehicle producer’s stock worth $723,000 after buying an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TSLA shares. Jefferies Financial Group cut their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Royal Bank of Canada restated an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research report on Wednesday, March 27th. Morgan Stanley dropped their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Finally, Redburn Atlantic began coverage on Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price objective on the stock. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $194.70.

Tesla Stock Down 3.4 %

NASDAQ:TSLA opened at $142.05 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $177.59 and its two-hundred day moving average is $210.05. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The stock has a market capitalization of $452.40 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 3.89 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company posted $1.07 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s 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 sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by company insiders.

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.