Sentry Investment Management LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sentry Investment Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 20.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,314 shares of the electric vehicle producer’s stock after selling 3,078 shares during the quarter. Tesla comprises approximately 1.1% of Sentry Investment Management LLC’s investment portfolio, making the stock its 14th biggest position. Sentry Investment Management LLC’s holdings in Tesla were worth $2,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank & Trust Co acquired a new stake in shares of Tesla during the second quarter valued at about $25,000. OLD Point Trust & Financial Services N A acquired a new position in Tesla during the fourth quarter worth $37,000. Kessler Investment Group LLC raised its holdings in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Aspect Partners LLC grew its position in Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after acquiring an additional 114 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Tesla in the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $226.17 on Wednesday. The business’s 50-day simple moving average is $224.49 and its 200-day simple moving average is $193.96. The firm has a market capitalization of $722.53 billion, a P/E ratio of 57.70, a P/E/G ratio of 5.57 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSLA shares. The Goldman Sachs Group decreased their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Stifel Nicolaus initiated coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. Barclays cut their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, Mizuho upped their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $209.03.

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.