German American Bancorp Inc. Sells 1,725 Shares of Tesla, Inc. (NASDAQ:TSLA)

German American Bancorp Inc. trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 59.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,156 shares of the electric vehicle producer's stock after selling 1,725 shares during the period. German American Bancorp Inc.'s holdings in Tesla were worth $302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank & Trust Co purchased a new position in shares of Tesla during the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter valued at about $29,000. Finally, Clean Yield Group grew its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after buying an additional 48 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. Argus reaffirmed a "buy" rating and set a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Wells Fargo & Company increased their price target on Tesla from $120.00 to $125.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Morgan Stanley reissued an "overweight" rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Glj Research restated a "sell" rating and issued a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group upped their price objective on Tesla from $230.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $230.18.

Tesla Trading Down 0.7 %

Shares of NASDAQ:TSLA traded down $2.39 during midday trading on Thursday, hitting $339.64. 57,646,863 shares of the stock were exchanged, compared to its average volume of 95,829,820. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The business's 50-day moving average price is $259.42 and its 200 day moving average price is $224.12. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.62, a P/E/G ratio of 11.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.