Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 14.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,765 shares of the electric vehicle producer’s stock after purchasing an additional 4,165 shares during the quarter. Tesla comprises approximately 0.6% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 25th biggest holding. Meridian Wealth Management LLC’s holdings in Tesla were worth $13,636,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Swedbank AB boosted its holdings in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after acquiring an additional 29,669 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Tesla in the third quarter valued at approximately $403,000. Donaldson Capital Management LLC bought a new position in shares of Tesla in the third quarter valued at approximately $233,000. Rational Advisors LLC boosted its holdings in shares of Tesla by 128.6% in the third quarter. Rational Advisors LLC now owns 3,063 shares of the electric vehicle producer’s stock valued at $801,000 after acquiring an additional 1,723 shares in the last quarter. Finally, Solitude Financial Services bought a new position in shares of Tesla in the third quarter valued at approximately $235,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TSLA. Evercore ISI raised their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Piper Sandler raised their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Morgan Stanley restated a “top pick” rating and set a $430.00 target price on shares of Tesla in a report on Monday. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Finally, StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $315.33.

Tesla Trading Down 4.4 %

Shares of NASDAQ TSLA opened at $272.11 on Wednesday. The company’s 50 day simple moving average is $378.63 and its 200 day simple moving average is $318.40. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $875.24 billion, a P/E ratio of 133.39, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 303,996 shares of company stock valued at $118,467,387 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

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.