Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Lessened by Meeder Asset Management Inc.

Meeder Asset Management Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,947 shares of the electric vehicle producer’s stock after selling 299 shares during the period. Meeder Asset Management Inc.’s holdings in Tesla were worth $509,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its position in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares during the last quarter. Tyler Stone Wealth Management raised its stake in shares of Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares in the last quarter. Savvy Advisors Inc. lifted its holdings in shares of Tesla by 24.2% during the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after buying an additional 1,467 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Tesla by 19.0% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after buying an additional 3,909 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. HSBC restated a “reduce” rating and set a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. Canaccord Genuity Group boosted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Piper Sandler raised their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $230.18.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of the business’s 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 completion of the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock valued at $92,956,692 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 2.1 %

Shares of NASDAQ:TSLA opened at $346.00 on Wednesday. The company has a market capitalization of $1.11 trillion, a PE ratio of 94.79, a P/E/G ratio of 10.42 and a beta of 2.29. 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 company’s fifty day moving average is $257.14 and its 200-day moving average is $223.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Tesla 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.