880 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 880 shares of the electric vehicle producer’s stock, valued at approximately $230,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Connable Office Inc. raised its stake in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after buying an additional 38 shares during the last quarter. Integris Wealth Management LLC lifted its position in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc boosted its position in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares in the last quarter. Echo Wealth Management LLC grew its stake in Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares during the period. Finally, Essex Savings Bank increased its stake in Tesla by 1.4% during the 3rd quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock valued at $818,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 in the last 90 days. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. HSBC restated a “reduce” rating and set a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Canaccord Genuity Group lifted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Price Performance

Shares of Tesla stock opened at $320.72 on Friday. The firm has a market capitalization of $1.03 trillion, a PE ratio of 87.87, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The business’s 50-day moving average price is $252.30 and its 200-day moving average price is $220.72.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.