Maridea Wealth Management LLC Acquires 1,287 Shares of Tesla, Inc. $TSLA

Maridea Wealth Management LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 20.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,688 shares of the electric vehicle producer’s stock after purchasing an additional 1,287 shares during the quarter. Maridea Wealth Management LLC’s holdings in Tesla were worth $2,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Conrad Siegel Investment Advisors Inc. lifted its position in shares of Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares in the last quarter. Acorn Wealth Advisors LLC increased its position in shares of Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after acquiring an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd increased its position in shares of Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after acquiring an additional 36 shares during the last quarter. ACT Wealth Management LLC lifted its holdings in Tesla by 0.7% during the second quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer’s stock worth $1,717,000 after acquiring an additional 36 shares during the period. Finally, Capital Management Associates Inc boosted its position in Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock worth $302,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $423.39 on Friday. The firm’s 50 day moving average is $349.83 and its 200 day moving average is $312.97. The stock has a market capitalization of $1.41 trillion, a P/E ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TSLA shares. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Piper Sandler raised their price objective on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research report on Monday, September 15th. Argus reissued a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Finally, Royal Bank Of Canada restated an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $326.74.

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.