Meredith Wealth Planning Makes New Investment in Tesla, Inc. $TSLA

Meredith Wealth Planning bought a new stake in Tesla, Inc. (NASDAQ:TSLAFree Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,204 shares of the electric vehicle producer’s stock, valued at approximately $1,425,000. Tesla comprises 0.5% of Meredith Wealth Planning’s investment portfolio, making the stock its 25th biggest position.

Several other hedge funds have also recently modified their holdings of the stock. Relyea Zuckerberg Hanson LLC raised its position in Tesla by 0.4% during the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock worth $2,916,000 after buying an additional 23 shares during the last quarter. Chesley Taft & Associates LLC boosted its holdings in shares of Tesla by 0.8% in the third quarter. Chesley Taft & Associates LLC now owns 3,118 shares of the electric vehicle producer’s stock valued at $1,387,000 after acquiring an additional 25 shares in the last quarter. KRS Capital Management LLC increased its stake in shares of Tesla by 1.2% during the third quarter. KRS Capital Management LLC now owns 2,035 shares of the electric vehicle producer’s stock worth $905,000 after acquiring an additional 25 shares during the period. DecisionMap Wealth Management LLC raised its holdings in Tesla by 1.0% during the third quarter. DecisionMap Wealth Management LLC now owns 2,533 shares of the electric vehicle producer’s stock worth $1,126,000 after purchasing an additional 25 shares in the last quarter. Finally, Lakeridge Wealth Management LLC lifted its position in Tesla by 1.0% in the third quarter. Lakeridge Wealth Management LLC now owns 2,585 shares of the electric vehicle producer’s stock valued at $1,149,000 after purchasing an additional 25 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Tesla stock opened at $451.67 on Tuesday. The firm has a market capitalization of $1.50 trillion, a PE ratio of 301.11, a P/E/G ratio of 7.02 and a beta of 1.83. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $498.83. The firm’s 50-day simple moving average is $445.75 and its 200 day simple moving average is $392.74. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Mizuho boosted their target price on Tesla from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Melius Research set a $520.00 target price on Tesla and gave the company a “buy” rating in a report on Monday, October 13th. Morgan Stanley set a $425.00 price target on shares of Tesla and gave the stock an “equal weight” rating in a research note on Sunday, December 7th. Finally, DZ Bank reiterated a “sell” rating on shares of Tesla in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $406.47.

View Our Latest Report on TSLA

Key Tesla News

Here are the key news stories impacting Tesla this week:

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the sale, the chief financial officer owned 13,757 shares of the company’s stock, valued at $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. 19.90% of the stock is currently owned by corporate insiders.

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Featured Articles

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.