Meridian Wealth Management LLC Has $13.64 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Meridian Wealth Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,765 shares of the electric vehicle producer’s stock after acquiring an additional 4,165 shares during the quarter. Tesla comprises about 0.6% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding. Meridian Wealth Management LLC’s holdings in Tesla were worth $13,636,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Swedbank AB increased its holdings in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Tesla during the 3rd quarter worth approximately $403,000. Donaldson Capital Management LLC acquired a new stake in Tesla during the 3rd quarter worth approximately $233,000. Rational Advisors LLC boosted its position in Tesla by 128.6% during the 3rd quarter. Rational Advisors LLC now owns 3,063 shares of the electric vehicle producer’s stock worth $801,000 after buying an additional 1,723 shares during the period. Finally, Solitude Financial Services acquired a new position in shares of Tesla in the 3rd quarter worth approximately $235,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 4.4 %

Shares of NASDAQ TSLA opened at $272.11 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. 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’s 50 day simple moving average is $378.63 and its two-hundred day simple moving average is $318.40. The stock has a market capitalization of $875.24 billion, a P/E ratio of 133.39, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Guggenheim restated a “sell” rating on shares of Tesla in a research note on Tuesday, February 25th. Morgan Stanley reiterated a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research note on Monday. UBS Group reiterated a “neutral” rating on shares of Tesla in a research note on Tuesday. Finally, Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $315.33.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,996 shares of company stock valued at $118,467,387. 20.70% of the stock is currently owned by company insiders.

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.