Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management LLC significantly increased its stake in Tesla, raising it by 114.4% in the first quarter, now owning 6,401 shares worth approximately $1.66 million.
• Tesla's recent earnings report revealed a missed EPS estimate of $0.40 compared to the consensus estimate of $0.43, with revenues of $22.50 billion falling short of expectations.
• The consensus rating for Tesla's stock is currently a "Hold", with target prices ranging from $175.00 to $500.00 by various analysts.

Maridea Wealth Management LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 114.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,401 shares of the electric vehicle producer's stock after purchasing an additional 3,416 shares during the period. Maridea Wealth Management LLC's holdings in Tesla were worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Rinkey Investments boosted its position in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Aldebaran Financial Inc. boosted its position in shares of Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after purchasing an additional 35 shares in the last quarter. Acorn Wealth Advisors LLC boosted its position in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Finally, Capital Management Associates Inc boosted its position in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Down 2.9%

NASDAQ TSLA traded down $9.32 on Thursday, reaching $309.72. The company had a trading volume of 59,272,081 shares, compared to its average volume of 107,835,406. The firm has a market capitalization of $998.97 billion, a PE ratio of 178.69, a P/E/G ratio of 11.28 and a beta of 2.39. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The firm has a 50-day moving average of $323.61 and a 200-day moving average of $313.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on TSLA shares. Piper Sandler restated an "overweight" rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Wedbush restated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Tuesday, July 22nd. HSBC reiterated a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Benchmark reiterated a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $303.31.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is currently owned by insiders.

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.