Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Meriwether Wealth & Planning LLC

Meriwether Wealth & Planning LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 43.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,245 shares of the electric vehicle producer’s stock after buying an additional 377 shares during the quarter. Meriwether Wealth & Planning LLC’s holdings in Tesla were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Wealth Group Ltd. purchased a new stake in shares of Tesla during the 4th quarter worth approximately $275,000. Tallon Kerry Patrick acquired a new stake in Tesla in the fourth quarter valued at $374,000. Eagle Capital Management LLC purchased a new position in shares of Tesla in the fourth quarter valued at $331,000. Brighton Jones LLC raised its stake in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its position in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the chief financial officer now directly owns 1,950 shares of the company’s stock, valued at $682,500. The trade was a 33.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president now owns 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

TSLA opened at $322.05 on Friday. The stock has a market cap of $1.04 trillion, a P/E ratio of 176.95, a P/E/G ratio of 12.04 and a beta of 2.47. Tesla, Inc. has a 12 month low of $179.66 and a 12 month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $304.81 and a 200 day simple moving average of $332.35.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm earned $0.45 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on TSLA shares. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. BNP Paribas set a $137.00 target price on Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. Benchmark reissued a “buy” rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. Raymond James Financial downgraded Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Finally, Cowen raised Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $293.67.

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.