OLD National Bancorp IN Acquires 2,148 Shares of Tesla, Inc. (NASDAQ:TSLA)

OLD National Bancorp IN lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,977 shares of the electric vehicle producer’s stock after buying an additional 2,148 shares during the quarter. OLD National Bancorp IN’s holdings in Tesla were worth $3,473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC bought a new stake in Tesla during the 4th quarter worth about $25,000. Lam Group Inc. acquired a new position in shares of Tesla in the 4th quarter valued at approximately $25,000. Mendota Financial Group LLC grew its position in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV grew its position in shares of Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Finally, Kathleen S. Wright Associates Inc. grew its position in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. Jefferies Financial Group decreased their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research report on Monday. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Truist Financial reduced their price target on Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a research report on Wednesday, April 3rd. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $194.70.

Tesla Stock Performance

TSLA opened at $142.05 on Tuesday. The firm has a market cap of $452.40 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 3.89 and a beta of 2.40. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The business’s fifty day moving average is $177.59 and its 200-day moving average is $210.05.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, 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 three months, 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.

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.