MidWestOne Financial Group Inc. Sells 59 Shares of Tesla, Inc. (NASDAQ:TSLA)

MidWestOne Financial Group Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,318 shares of the electric vehicle producer’s stock after selling 59 shares during the period. MidWestOne Financial Group Inc.’s holdings in Tesla were worth $657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC raised its stake in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares during the period. ARK Investment Management LLC raised its stake in Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Tesla by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was 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 owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Up 2.5 %

TSLA opened at $260.46 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market capitalization of $832.08 billion, a P/E ratio of 66.44, a P/E/G ratio of 6.92 and a beta of 2.29. The stock has a fifty day moving average of $221.89 and a 200-day moving average of $198.67.

Tesla (NASDAQ:TSLA) last posted its earnings results 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and lifted their price target for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, Guggenheim lifted their price target on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $209.90.

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.