Bahl & Gaynor Inc. Sells 1,077 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bahl & Gaynor Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,655 shares of the electric vehicle producer’s stock after selling 1,077 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Tesla were worth $668,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla during the 3rd quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla during the fourth quarter worth $46,000. PayPay Securities Corp increased its holdings in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Finally, Finley Financial LLC bought a new position in shares of Tesla in the fourth quarter valued at about $64,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of TSLA opened at $279.10 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $897.73 billion, a PE ratio of 136.81, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business has a 50-day simple moving average of $374.97 and a two-hundred day simple moving average of $318.13.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Bank of America reduced their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays upped their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Wednesday, February 12th. Evercore ISI boosted their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $315.33.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 422,386 shares of company stock valued at $153,916,675. Insiders own 20.70% of the company’s stock.

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.