Meadow Creek Wealth Advisors LLC Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Meadow Creek Wealth Advisors LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,185 shares of the electric vehicle producer’s stock, valued at approximately $479,000.

A number of other large investors have also modified their holdings of the business. Inman Jager Wealth Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $459,000. LCM Capital Management Inc increased its holdings in Tesla by 9.9% in the fourth quarter. LCM Capital Management Inc now owns 1,373 shares of the electric vehicle producer’s stock valued at $555,000 after buying an additional 124 shares in the last quarter. Private Management Group Inc. acquired a new stake in shares of Tesla during the 4th quarter valued at approximately $298,000. Vestia Personal Wealth Advisors grew its holdings in shares of Tesla by 114.3% in the 4th quarter. Vestia Personal Wealth Advisors now owns 2,734 shares of the electric vehicle producer’s stock worth $1,104,000 after acquiring an additional 1,458 shares during the period. Finally, Tectonic Advisors LLC purchased a new position in Tesla in the 4th quarter valued at approximately $257,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $361.62 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market cap of $1.16 trillion, a P/E ratio of 177.27, a PEG ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a 50-day moving average of $408.27 and a two-hundred day moving average of $303.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on TSLA shares. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and upped their target price for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Truist Financial upped their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $440.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Finally, Evercore ISI increased their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $322.29.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 560,776 shares of company stock worth $203,744,862. Insiders own 20.70% of the company’s stock.

About Tesla

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.