Merit Financial Group LLC Sells 941 Shares of Tesla, Inc. (NASDAQ:TSLA)

Merit Financial Group LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,311 shares of the electric vehicle producer’s stock after selling 941 shares during the period. Merit Financial Group LLC’s holdings in Tesla were worth $21,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP increased its holdings in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock valued at $213,451,751 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $426.50 on Friday. The company has a market cap of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm’s fifty day moving average is $389.94 and its two-hundred day moving average is $288.09.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Truist Financial restated a “hold” rating and set a $360.00 price target on shares of Tesla in a research note on Thursday, January 2nd. Finally, Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $230.00 to $515.00 in a research note on Tuesday, December 17th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $299.33.

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.