Indiana Trust & Investment Management CO Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Indiana Trust & Investment Management CO cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,228 shares of the electric vehicle producer’s stock after selling 895 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Tesla were worth $392,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wyrmwood Management LLC bought a new stake in shares of Tesla in the 4th quarter worth about $25,000. Lam Group Inc. bought a new stake in Tesla in the fourth quarter valued at about $25,000. Mendota Financial Group LLC raised its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in Tesla during the 4th quarter worth approximately $37,000. Finally, Guardian Wealth Management Inc. acquired a new position in shares of Tesla in the 4th quarter worth approximately $47,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the 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 sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders have sold a total of 104,855 shares of company stock valued at $19,285,643 in the last 90 days. 25.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Truist Financial decreased their price objective on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Wedbush reiterated an “outperform” rating and set a $275.00 price objective on shares of Tesla in a research note on Friday, June 14th. Jefferies Financial Group decreased their target price on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Finally, Guggenheim reiterated a “sell” rating and set a $126.00 price target on shares of Tesla in a research report on Tuesday. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $187.30.

Tesla Stock Up 0.2 %

TSLA stock traded up $0.46 during trading hours on Friday, hitting $197.88. The company’s stock had a trading volume of 95,214,969 shares, compared to its average volume of 95,329,102. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a market capitalization of $631.08 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 4.87 and a beta of 2.32. The stock has a 50 day moving average price of $175.83 and a two-hundred day moving average price of $192.28. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. On average, equities research analysts expect that Tesla, Inc. will post 1.87 earnings per share for the current year.

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.