Baird Financial Group Inc. Reduces Stock Holdings in Tesla, Inc. $TSLA

Baird Financial Group Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 380,284 shares of the electric vehicle producer’s stock after selling 72,829 shares during the period. Baird Financial Group Inc.’s holdings in Tesla were worth $98,554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank lifted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC lifted its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the 1st quarter worth about $27,000. Finally, Centennial Bank AR lifted its position in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 150,564 shares of company stock worth $51,792,190. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $333.87 on Friday. Tesla, Inc. has a twelve month low of $205.97 and a twelve month high of $488.54. The business has a 50-day moving average price of $323.59 and a 200 day moving average price of $303.15. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.08 trillion, a PE ratio of 192.99, a P/E/G ratio of 12.03 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. China Renaissance reissued a “hold” rating and issued a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Wedbush reissued an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a report on Monday, August 4th. Finally, Argus restated a “hold” rating on shares of Tesla in a research note on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $303.31.

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.