Maridea Wealth Management LLC Makes New $1.21 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Maridea Wealth Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,985 shares of the electric vehicle producer’s stock, valued at approximately $1,205,000.

A number of other large investors have also recently made changes to their positions in TSLA. World Investment Advisors LLC lifted its holdings in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management lifted its holdings in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the period. Stephens Consulting LLC boosted its position in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Wells Fargo & Company lowered their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective on the stock in a research report on Wednesday, March 19th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $318.34.

Tesla Price Performance

Shares of Tesla stock opened at $263.55 on Friday. The stock has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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 has a 50 day moving average price of $321.33 and a 200-day moving average price of $321.68. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by insiders.

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.