MidWestOne Financial Group Inc. Buys 399 Shares of Tesla, Inc. (NASDAQ:TSLA)

MidWestOne Financial Group Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,961 shares of the electric vehicle producer’s stock after buying an additional 399 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Tesla were worth $1,600,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Tesla by 12.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 563,378 shares of the electric vehicle producer’s stock worth $227,515,000 after buying an additional 62,329 shares during the last quarter. Focus Partners Advisor Solutions LLC lifted its position in Tesla by 24.2% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 28,980 shares of the electric vehicle producer’s stock worth $11,704,000 after buying an additional 5,644 shares during the last quarter. First Heartland Consultants Inc. lifted its position in Tesla by 6.5% in the fourth quarter. First Heartland Consultants Inc. now owns 6,981 shares of the electric vehicle producer’s stock worth $2,819,000 after buying an additional 423 shares during the last quarter. Kolinsky Wealth Management LLC lifted its position in Tesla by 33.6% in the fourth quarter. Kolinsky Wealth Management LLC now owns 1,536 shares of the electric vehicle producer’s stock worth $620,000 after buying an additional 386 shares during the last quarter. Finally, Note Advisors LLC bought a new stake in Tesla in the fourth quarter worth $200,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $343.82 on Wednesday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 168.54, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock’s 50-day simple moving average is $271.29 and its 200-day simple moving average is $331.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 415,623 shares of company stock worth $116,650,831. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and set a $350.00 target price on shares of Tesla in a research report on Thursday, May 1st. Mizuho lifted their target price on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Piper Sandler set a $400.00 target price on Tesla in a research report on Tuesday, May 6th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $289.43.

Tesla Company Profile

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.