Tesla, Inc. (NASDAQ:TSLA) Position Increased by Meadow Creek Wealth Advisors LLC

Meadow Creek Wealth Advisors LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,265 shares of the electric vehicle producer’s stock after purchasing an additional 80 shares during the quarter. Meadow Creek Wealth Advisors LLC’s holdings in Tesla were worth $328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $56,600,000. Means Investment CO. Inc. raised its holdings in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. lifted its stake in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. boosted its holdings in Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in Tesla during the fourth quarter worth $8,158,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares of the company’s stock, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 5.3%

TSLA stock opened at $300.71 on Wednesday. The business has a fifty day moving average price of $317.99 and a 200 day moving average price of $328.19. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock has a market capitalization of $968.57 billion, a price-to-earnings ratio of 165.23, a P/E/G ratio of 12.06 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the business posted $0.45 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a “buy” rating in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Guggenheim reissued a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Monday, June 23rd. Finally, Glj Research reaffirmed a “sell” rating and issued a $19.05 target price (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $298.37.

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.