Meredith Wealth Planning Makes New $1.43 Million Investment in Tesla, Inc. $TSLA

Meredith Wealth Planning purchased a new stake in Tesla, Inc. (NASDAQ:TSLAFree Report) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 3,204 shares of the electric vehicle producer’s stock, valued at approximately $1,425,000. Tesla comprises about 0.5% of Meredith Wealth Planning’s portfolio, making the stock its 25th largest holding.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after buying an additional 4,502,976 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after acquiring an additional 1,269,304 shares during the last quarter. Norges Bank acquired a new stake in shares of Tesla in the second quarter worth approximately $11,839,824,000. Legal & General Group Plc increased its position in Tesla by 5.9% during the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares during the last quarter. Finally, Amundi increased its position in Tesla by 20.4% during the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock worth $6,374,284,000 after purchasing an additional 3,422,270 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TSLA shares. Dbs Bank raised shares of Tesla to a “hold” rating in a research note on Wednesday, November 5th. Benchmark reiterated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. CICC Research upped their price target on Tesla from $450.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Stifel Nicolaus raised their price objective on Tesla from $483.00 to $508.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Finally, Morgan Stanley set a $425.00 target price on Tesla and gave the stock 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 issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $406.47.

View Our Latest Stock Analysis on TSLA

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $451.67 on Tuesday. The business’s 50-day simple moving average is $445.75 and its 200 day simple moving average is $392.74. The company has a market cap of $1.50 trillion, a P/E ratio of 301.11, a PEG ratio of 7.02 and a beta of 1.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a one year low of $214.25 and a one year high of $498.83.

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

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the transaction, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. The trade was a 3.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction dated 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 19.90% of the company’s stock.

About Tesla

(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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