Mezzasalma Advisors LLC Has $18.36 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Mezzasalma Advisors LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,826 shares of the electric vehicle producer’s stock after selling 2,087 shares during the period. Tesla makes up approximately 6.3% of Mezzasalma Advisors LLC’s holdings, making the stock its 3rd largest holding. Mezzasalma Advisors LLC’s holdings in Tesla were worth $18,355,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vista Finance LLC increased its holdings in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after buying an additional 25 shares in the last quarter. Vista Capital Partners Inc. grew its position in Tesla by 1.4% during the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock worth $795,000 after acquiring an additional 27 shares during the last quarter. Blackston Financial Advisory Group LLC increased its holdings in Tesla by 1.3% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock valued at $875,000 after purchasing an additional 27 shares in the last quarter. Kooman & Associates raised its position in Tesla by 2.4% in the 4th quarter. Kooman & Associates now owns 1,188 shares of the electric vehicle producer’s stock valued at $480,000 after purchasing an additional 28 shares during the last quarter. Finally, Rinkey Investments boosted its stake in Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after purchasing an additional 29 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 3.8%

Shares of NASDAQ TSLA opened at $316.73 on Wednesday. The company’s fifty day moving average is $302.42 and its 200-day moving average is $332.66. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 174.03, a P/E/G ratio of 12.36 and a beta of 2.47. Tesla, Inc. has a twelve month low of $179.66 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the firm posted $0.45 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Bank of America reduced their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Argus reissued a “hold” rating on shares of Tesla in a report on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $293.67.

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.