OLD National Bancorp IN Has $6.55 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

OLD National Bancorp IN boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,222 shares of the electric vehicle producer's stock after buying an additional 1,363 shares during the period. OLD National Bancorp IN's holdings in Tesla were worth $6,551,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group boosted its position in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter worth about $35,000. Finley Financial LLC purchased a new position in shares of Tesla in the fourth quarter worth approximately $64,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer's stock worth $56,000 after purchasing an additional 187 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. Guggenheim reaffirmed a "sell" rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Robert W. Baird dropped their price objective on shares of Tesla from $480.00 to $440.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. The Goldman Sachs Group lifted their target price on shares of Tesla from $250.00 to $345.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Glj Research reiterated a "sell" rating and set a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. Finally, Mizuho restated an "outperform" rating and issued a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $318.31.

Tesla Trading Down 3.6 %

Tesla stock traded down $14.04 during mid-day trading on Wednesday, hitting $378.17. The stock had a trading volume of 56,866,291 shares, compared to its average volume of 74,695,539. The stock has a market capitalization of $1.22 trillion, a PE ratio of 185.38, a P/E/G ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $406.20 and a two-hundred day simple moving average of $301.73.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.82 EPS for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company's stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 553,386 shares of company stock valued at $196,305,796 in the last 90 days. 20.70% of the stock is owned by company insiders.

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.