CHICAGO TRUST Co NA Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

CHICAGO TRUST Co NA trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 34.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,696 shares of the electric vehicle producer’s stock after selling 897 shares during the period. CHICAGO TRUST Co NA’s holdings in Tesla were worth $298,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Federated Hermes Inc. increased its stake in Tesla by 13.3% in the 3rd quarter. Federated Hermes Inc. now owns 82,508 shares of the electric vehicle producer’s stock valued at $20,645,000 after purchasing an additional 9,676 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Tesla by 10.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,073 shares of the electric vehicle producer’s stock valued at $1,019,000 after purchasing an additional 370 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Tesla by 25.3% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 7,769 shares of the electric vehicle producer’s stock valued at $1,944,000 after buying an additional 1,568 shares during the last quarter. GSB Wealth Management LLC grew its holdings in Tesla by 7.2% during the 3rd quarter. GSB Wealth Management LLC now owns 974 shares of the electric vehicle producer’s stock valued at $244,000 after buying an additional 65 shares during the last quarter. Finally, Cadence Bank grew its holdings in Tesla by 10.8% during the 3rd quarter. Cadence Bank now owns 2,013 shares of the electric vehicle producer’s stock valued at $504,000 after buying an additional 196 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, June 20th. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Guggenheim restated a “sell” rating and set a $122.00 price objective on shares of Tesla in a report on Tuesday, April 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $230.00 price objective on shares of Tesla in a report on Monday. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $182.68.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock worth $19,285,643 over the last ninety days. Company insiders own 20.90% of the company’s stock.

Tesla Stock Down 0.2 %

NASDAQ:TSLA opened at $182.58 on Tuesday. The company has a market capitalization of $582.28 billion, a price-to-earnings ratio of 46.58, a price-to-earnings-growth ratio of 4.54 and a beta of 2.32. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The stock has a 50-day simple moving average of $174.41 and a 200 day simple moving average of $192.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Sell-side analysts predict that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

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.