Mesirow Financial Investment Management Inc. Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Mesirow Financial Investment Management Inc. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,097 shares of the electric vehicle producer’s stock after selling 1,200 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Tesla were worth $2,196,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Integris Wealth Management LLC raised its stake in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the period. Echo Wealth Management LLC grew its holdings in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co increased its position in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after buying an additional 45 shares during the period. Bellevue Asset Management LLC lifted its holdings in shares of Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares in the last quarter. Finally, Cypress Capital Group boosted its position in shares of Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after acquiring an additional 47 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 in the company, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Stock Down 1.5 %

NASDAQ TSLA opened at $226.78 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.93. The stock has a market capitalization of $723.25 billion, a PE ratio of 57.85, a PEG ratio of 6.08 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business’s 50-day moving average is $222.85 and its 200 day moving average is $194.75.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, September 5th. Argus reiterated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Finally, Mizuho boosted their price objective on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $209.60.

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.