Meritas Wealth Management LLC Sells 375 Shares of Tesla, Inc. (NASDAQ:TSLA)

Meritas Wealth Management LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 22.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,320 shares of the electric vehicle producer’s stock after selling 375 shares during the quarter. Meritas Wealth Management LLC’s holdings in Tesla were worth $533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Lee Johnson Capital Management LLC raised its stake in shares of Tesla by 1.7% during the fourth quarter. Lee Johnson Capital Management LLC now owns 16,385 shares of the electric vehicle producer’s stock valued at $6,617,000 after acquiring an additional 270 shares in the last quarter. McCarthy & Cox purchased a new position in Tesla during the 4th quarter worth $269,000. Flower City Capital raised its position in Tesla by 15.2% during the 4th quarter. Flower City Capital now owns 961 shares of the electric vehicle producer’s stock valued at $388,000 after purchasing an additional 127 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Tesla by 31.7% in the 4th quarter. UMB Bank n.a. now owns 151,336 shares of the electric vehicle producer’s stock worth $61,116,000 after buying an additional 36,409 shares during the period. Finally, BlueSky Wealth Advisors LLC bought a new position in shares of Tesla during the 4th quarter worth $244,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 2.1 %

Tesla stock opened at $415.11 on Thursday. The business’s 50-day moving average price is $393.38 and its 200 day moving average price is $291.27. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.33 trillion, a price-to-earnings ratio of 113.73, a price-to-earnings-growth ratio of 8.60 and a beta of 2.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TSLA shares. Canaccord Genuity Group upped their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Morgan Stanley lifted their price objective on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group boosted their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $309.48.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 617,886 shares of company stock valued at $212,451,751. Corporate 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.