Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,022 shares of the electric vehicle producer’s stock after selling 79 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Tesla were worth $413,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB raised its holdings in shares of Tesla by 2.8% during 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 during the period. Principal Financial Group Inc. raised its holdings in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. United Bank acquired a new stake in shares of Tesla during the third quarter valued at approximately $287,000. Advisors Asset Management Inc. raised its holdings in shares of Tesla by 0.9% during the third quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer’s stock valued at $2,347,000 after acquiring an additional 80 shares during the period. Finally, Integrated Investment Consultants LLC acquired a new stake in shares of Tesla during the third quarter valued at approximately $280,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $248.71 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company’s 50 day simple moving average is $335.19 and its 200-day simple moving average is $320.44. The stock has a market capitalization of $799.98 billion, a P/E ratio of 121.92, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly 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%. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TSLA shares. Wedbush reissued an “outperform” rating and issued a $550.00 price target on shares of Tesla in a research report on Thursday. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target for the company in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Evercore ISI raised their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $318.93.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred 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 sale, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is owned by company insiders.

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.