Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,915 shares of the electric vehicle producer’s stock after purchasing an additional 57 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Tesla were worth $577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atalanta Sosnoff Capital LLC boosted its position in Tesla by 3.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after purchasing an additional 6,575 shares during the period. Newbridge Financial Services Group Inc. boosted its position in Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares during the period. Entropy Technologies LP acquired a new position in Tesla during the 1st quarter valued at approximately $1,941,000. Future Financial Wealth Managment LLC acquired a new position in Tesla during the 1st quarter valued at approximately $79,000. Finally, Public Employees Retirement System of Ohio boosted its position in Tesla by 0.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock valued at $351,166,000 after purchasing an additional 6,034 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 0.5 %

Shares of Tesla stock opened at $227.87 on Wednesday. The firm has a market capitalization of $726.72 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $222.16 and its 200-day moving average is $194.93.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Barclays reduced their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a research report on Friday, July 5th. Argus reiterated a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $300.00 price target on shares of Tesla in a research report on Monday, August 19th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $209.60.

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.