Meridian Wealth Partners LLC Buys 57 Shares of Tesla, Inc. (NASDAQ:TSLA)

Meridian Wealth Partners LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,915 shares of the electric vehicle producer’s stock after acquiring an additional 57 shares during the period. Meridian Wealth Partners LLC’s holdings in Tesla were worth $577,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Atalanta Sosnoff Capital LLC boosted its stake in shares of Tesla by 3.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock worth $45,546,000 after acquiring an additional 6,575 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of 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 worth $7,013,000 after acquiring an additional 1,943 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Tesla during the 1st quarter worth about $1,941,000. Future Financial Wealth Managment LLC bought a new stake in shares of Tesla during the 1st quarter worth about $79,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of 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 worth $351,166,000 after acquiring an additional 6,034 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.5 %

Shares of TSLA opened at $227.87 on Wednesday. The stock has a fifty day moving average price of $222.16 and a two-hundred day moving average price of $194.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.93. The company has a market cap of $726.72 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 6.08 and a beta of 2.29.

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

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the business’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 completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TSLA shares. Argus restated a “buy” rating and set a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Truist Financial restated a “hold” rating and set a $215.00 target price on shares of Tesla in a research note on Wednesday, August 14th. The Goldman Sachs Group decreased their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Mizuho increased their target price on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Finally, Citigroup decreased their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently 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.