Bahl & Gaynor Inc. Has $570,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Bahl & Gaynor Inc. decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,880 shares of the electric vehicle producer’s stock after selling 311 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Tesla were worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. Norges Bank acquired a new position in Tesla in the 4th quarter worth about $7,844,757,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of 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 valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC grew 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 purchasing an additional 5,875,484 shares during the last quarter. Finally, ARK Investment Management LLC increased its position in Tesla by 2.6% in the 2nd 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 period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Roth Mkm reissued a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, July 24th. TD Cowen lifted their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Finally, New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $209.03.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $229.81 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company’s 50-day moving average is $223.80 and its 200 day moving average is $194.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market capitalization of $734.16 billion, a P/E ratio of 58.63, a price-to-earnings-growth ratio of 5.57 and a beta of 2.29.

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

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.