Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 24.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,574 shares of the electric vehicle producer’s stock after selling 23,885 shares during the quarter. Tesla comprises approximately 6.3% of Mezzasalma Advisors LLC’s holdings, making the stock its 5th largest position. Mezzasalma Advisors LLC’s holdings in Tesla were worth $14,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank & Trust Co acquired a new position in Tesla during the 2nd quarter valued at $25,000. OLD Point Trust & Financial Services N A acquired a new position in Tesla during the 4th quarter valued at $37,000. Kessler Investment Group LLC raised its stake in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the last quarter. Aspect Partners LLC raised its stake in Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after purchasing an additional 114 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Tesla during the 2nd quarter valued at $42,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 3.8 %

Shares of TSLA traded up $7.83 during mid-day trading on Friday, hitting $214.11. 63,370,608 shares of the company’s stock were exchanged, compared to its average volume of 97,535,023. The company has a market cap of $684.00 billion, a PE ratio of 54.62, a P/E/G ratio of 5.52 and a beta of 2.31. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98. The company has a 50-day simple moving average of $221.38 and a 200 day simple moving average of $192.64. 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 issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TSLA shares. HSBC increased their price objective on shares of Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Mizuho increased their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Glj Research increased their price objective on shares of Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Finally, Truist Financial reissued a “hold” rating and set a $215.00 price objective on shares of Tesla in a report on Wednesday, August 14th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $204.21.

Tesla Company 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.