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

Maridea Wealth Management LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel reports. The firm bought 2,985 shares of the electric vehicle producer’s stock, valued at approximately $1,205,000.

Several other large investors also recently bought and sold shares of TSLA. World Investment Advisors LLC grew its holdings in shares of Tesla by 1,248.9% during the third 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 last quarter. Destination Wealth Management grew its stake in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC increased its holdings in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after purchasing an additional 891 shares during the period. MML Investors Services LLC raised its stake in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $263.55 on Friday. The firm has a 50 day simple moving average of $321.33 and a 200-day simple moving average of $321.68. 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 current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TSLA shares. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. HSBC decreased their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research report on Thursday. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday. Finally, Wells Fargo & Company reduced their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $318.34.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 477,228 shares of company stock worth $166,849,043. Company 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.