Mesirow Financial Investment Management Inc. Trims Stock Holdings in Tesla, Inc. $TSLA

Mesirow Financial Investment Management Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,260 shares of the electric vehicle producer’s stock after selling 1,073 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Tesla were worth $3,894,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TSLA. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the first quarter valued at approximately $27,000. Chelsea Counsel Co. increased its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Centennial Bank AR increased its holdings in shares of Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 100 shares during the period. LGT Financial Advisors LLC acquired a new position in shares of Tesla in the second quarter valued at approximately $29,000. Finally, Compass Wealth Management LLC increased its holdings in shares of Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $456.56 on Friday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $410.52 and its 200 day simple moving average is $347.47. The firm has a market capitalization of $1.52 trillion, a PE ratio of 304.37, a P/E/G ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the previous year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last three months. Corporate insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. Industrial Alliance Securities set a $300.00 target price on Tesla in a report on Monday, October 13th. Melius Research set a $520.00 price objective on Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. Piper Sandler upped their price objective on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. President Capital upped their price objective on Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Tesla in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $388.51.

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.