Meritage Portfolio Management Has $479,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

Meritage Portfolio Management lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,927 shares of the electric vehicle producer’s stock after selling 194 shares during the quarter. Meritage Portfolio Management’s holdings in Tesla were worth $479,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Wyrmwood Management LLC acquired a new position in Tesla in the 4th quarter valued at approximately $25,000. Lam Group Inc. acquired a new position in Tesla in the 4th quarter valued at approximately $25,000. Mendota Financial Group LLC increased its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV increased its stake in Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 69 shares during the period. Finally, Kathleen S. Wright Associates Inc. increased its stake in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA traded down $2.28 during midday trading on Friday, hitting $167.90. The company had a trading volume of 91,403,761 shares, compared to its average volume of 103,077,305. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. The company has a market capitalization of $534.73 billion, a PE ratio of 43.44, a P/E/G ratio of 4.28 and a beta of 2.39. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The firm’s 50-day simple moving average is $175.67 and its 200-day simple moving average is $208.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. Equities research analysts predict that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. The Goldman Sachs Group dropped their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. KGI Securities reaffirmed a “neutral” rating and set a $213.00 price objective (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Wednesday, April 17th. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Tesla in a report on Friday, April 19th. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $186.70.

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.