Meeder Asset Management Inc. Buys 2,645 Shares of Tesla, Inc. $TSLA

Meeder Asset Management Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 16.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,474 shares of the electric vehicle producer’s stock after purchasing an additional 2,645 shares during the quarter. Meeder Asset Management Inc.’s holdings in Tesla were worth $8,216,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Chapman Financial Group LLC bought a new stake in Tesla during the second quarter worth $26,000. LGT Financial Advisors LLC acquired a new position in shares of Tesla during the 2nd quarter worth $29,000. CoreFirst Bank & Trust bought a new stake in shares of Tesla during the 2nd quarter worth $30,000. ESL Trust Services LLC lifted its position in shares of Tesla by 1,900.0% during the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 95 shares during the last quarter. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of Tesla in the 2nd quarter valued at approximately $32,000. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Truist Financial lowered their price target on shares of Tesla from $444.00 to $439.00 and set a “hold” rating for the company in a report on Friday, January 2nd. Mizuho upped their target price on Tesla from $475.00 to $530.00 and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Melius initiated coverage on Tesla in a research report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price for the company. HSBC restated a “reduce” rating on shares of Tesla in a report on Monday, November 17th. Finally, Morgan Stanley set a $425.00 price objective on shares of Tesla and gave the company an “equal weight” rating in a report on Sunday, December 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $408.54.

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Insiders Place Their Bets

In other news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 119,457 shares of company stock worth $53,501,145. Corporate insiders own 19.90% of the company’s stock.

Tesla Trading Down 0.4%

NASDAQ:TSLA opened at $447.20 on Wednesday. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $498.83. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 298.13, a PEG ratio of 7.46 and a beta of 1.83. The firm has a fifty day simple moving average of $443.95 and a two-hundred day simple moving average of $397.34.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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