Sentinel Trust Co. LBA Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Sentinel Trust Co. LBA cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 26.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 830 shares of the electric vehicle producer’s stock after selling 305 shares during the period. Sentinel Trust Co. LBA’s holdings in Tesla were worth $215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FDx Advisors Inc. lifted its position in Tesla by 13.7% in the first quarter. FDx Advisors Inc. now owns 1,902 shares of the electric vehicle producer’s stock valued at $493,000 after acquiring an additional 229 shares during the last quarter. Platform Technology Partners raised its holdings in Tesla by 32.4% during the first quarter. Platform Technology Partners now owns 14,956 shares of the electric vehicle producer’s stock worth $3,876,000 after purchasing an additional 3,657 shares in the last quarter. Curtis Advisory Group LLC grew its position in Tesla by 5.1% during the first quarter. Curtis Advisory Group LLC now owns 1,245 shares of the electric vehicle producer’s stock worth $323,000 after buying an additional 60 shares during the period. Arizona State Retirement System grew its position in Tesla by 1.3% during the first quarter. Arizona State Retirement System now owns 847,858 shares of the electric vehicle producer’s stock worth $219,731,000 after buying an additional 11,210 shares during the period. Finally, Valued Wealth Advisors LLC grew its position in Tesla by 15.5% during the first quarter. Valued Wealth Advisors LLC now owns 379 shares of the electric vehicle producer’s stock worth $98,000 after buying an additional 51 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Cantor Fitzgerald lowered their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research report on Tuesday, July 8th. Finally, Cfra Research lowered shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $300.19.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $313.51 on Friday. The company’s fifty day simple moving average is $322.60 and its 200-day simple moving average is $320.26. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.01 trillion, a PE ratio of 172.26, a P/E/G ratio of 9.33 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the prior year, the business posted $0.45 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.