Mosaic Family Wealth Partners LLC Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Mosaic Family Wealth Partners LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,499 shares of the electric vehicle producer’s stock after selling 100 shares during the period. Mosaic Family Wealth Partners LLC’s holdings in Tesla were worth $1,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. MidWestOne Financial Group Inc. increased its position in shares of Tesla by 3.3% during the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares during the last quarter. City State Bank grew its position in Tesla by 3.3% in the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after acquiring an additional 40 shares in the last quarter. Marcum Wealth LLC increased its stake in Tesla by 0.6% during the third quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock worth $1,850,000 after purchasing an additional 41 shares during the period. Linscomb & Williams Inc. lifted its holdings in Tesla by 3.5% during the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after buying an additional 42 shares in the last quarter. Finally, Opal Wealth Advisors LLC grew its stake in Tesla by 1.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after purchasing an additional 42 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ:TSLA traded up $2.84 during mid-day trading on Thursday, reaching $174.60. The stock had a trading volume of 94,376,789 shares, compared to its average volume of 102,827,016. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The business has a 50 day simple moving average of $182.45 and a 200 day simple moving average of $215.50. Tesla, Inc. has a twelve month low of $152.37 and a twelve month high of $299.29. The firm has a market capitalization of $556.06 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 3.40 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period in the prior year, the company earned $1.07 EPS. The company’s revenue was up 3.5% on a year-over-year basis. On average, analysts expect that Tesla, Inc. will post 2.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TSLA shares. Citigroup lowered their price target on shares of Tesla from $224.00 to $196.00 and set a “neutral” rating for the company in a report on Wednesday, March 27th. Redburn Atlantic assumed coverage on Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price objective on the stock. Canaccord Genuity Group decreased their target price on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Piper Sandler dropped their price target on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Mizuho restated a “neutral” rating and set a $195.00 price objective (down previously from $270.00) on shares of Tesla in a research report on Monday, March 25th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.59.

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.