Maridea Wealth Management LLC Buys 1,287 Shares of Tesla, Inc. $TSLA

Maridea Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,688 shares of the electric vehicle producer's stock after acquiring an additional 1,287 shares during the period. Maridea Wealth Management LLC's holdings in Tesla were worth $2,442,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Vanguard Group Inc. increased its stake in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the period. Amundi raised its stake in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Piper Sandler raised their target price on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research report on Monday. William Blair reissued a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. CICC Research lifted their price objective on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $326.74.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,606 shares of company stock valued at $77,360,462. Corporate insiders own 19.90% of the company's stock.

Tesla Price Performance

Shares of TSLA opened at $423.39 on Friday. The firm has a market cap of $1.41 trillion, a PE ratio of 244.73, a price-to-earnings-growth ratio of 15.45 and a beta of 2.06. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The business's 50 day moving average price is $349.83 and its two-hundred day moving average price is $312.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

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.

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