Mezzasalma Advisors LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Mezzasalma Advisors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,826 shares of the electric vehicle producer's stock after selling 2,087 shares during the quarter. Tesla accounts for approximately 6.3% of Mezzasalma Advisors LLC's investment portfolio, making the stock its 3rd largest position. Mezzasalma Advisors LLC's holdings in Tesla were worth $18,355,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TSLA. Wealth Group Ltd. acquired a new stake in shares of Tesla during the fourth quarter worth $275,000. Tallon Kerry Patrick acquired a new stake in Tesla during the 4th quarter worth about $374,000. Eagle Capital Management LLC purchased a new stake in Tesla during the fourth quarter valued at about $331,000. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the period. Finally, Revolve Wealth Partners LLC increased its position in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. Cantor Fitzgerald decreased their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Oppenheimer reissued a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Guggenheim reaffirmed a "sell" rating on shares of Tesla in a research note on Friday. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $293.67.

Tesla Price Performance

NASDAQ TSLA opened at $316.73 on Wednesday. Tesla, Inc. has a 1 year low of $179.66 and a 1 year high of $488.54. The company has a fifty day simple moving average of $302.42 and a 200 day simple moving average of $332.66. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.02 trillion, a P/E ratio of 174.03, a P/E/G ratio of 12.36 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company earned $0.45 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now directly owns 5,924 shares in the company, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 in the last 90 days. 20.70% of the stock is currently owned by insiders.

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.

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