Meridian Wealth Management LLC Purchases 9,782 Shares of Tesla, Inc. $TSLA

Key Points

• Meridian Wealth Management LLC increased its Tesla stake by 15.7% in the fourth quarter, buying 9,782 more shares and bringing its total holdings to 72,015 shares valued at about $32.4 million.
• Other institutional investors also boosted their Tesla positions, and overall institutions now own 66.2% of the company’s stock, signaling continued strong professional interest.
• Tesla shares were up 3.9% to $444.92, while recent insider activity showed notable selling by a director and the CFO; meanwhile, analysts remain mixed with an average Hold rating and a consensus price target of $398.42.

Meridian Wealth Management LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,015 shares of the electric vehicle producer's stock after acquiring an additional 9,782 shares during the quarter. Tesla comprises 1.1% of Meridian Wealth Management LLC's holdings, making the stock its 14th largest holding. Meridian Wealth Management LLC's holdings in Tesla were worth $32,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Brighton Jones LLC increased its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC increased its holdings in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after acquiring an additional 3,558 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Tesla by 9.1% during the second quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer's stock valued at $3,855,000 after acquiring an additional 1,011 shares in the last quarter. Finally, AGP Franklin LLC increased its holdings in shares of Tesla by 21.2% during the second quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer's stock valued at $1,544,000 after acquiring an additional 851 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director owned 48,399 shares of the company's stock, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,264 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $397.03, for a total value of $898,875.92. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares in the company, valued at approximately $7,188,625.18. This represents a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 80,213 shares of company stock worth $30,851,105. Insiders own 19.90% of the company's stock.

Tesla Stock Up 3.9%

Shares of NASDAQ:TSLA opened at $444.92 on Tuesday. The business's 50 day moving average is $383.61 and its 200 day moving average is $418.25. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12-month low of $273.21 and a 12-month high of $498.83. The stock has a market cap of $1.67 trillion, a price-to-earnings ratio of 408.18, a PEG ratio of 16.31 and a beta of 1.79.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business had revenue of $22.39 billion for the quarter, compared to analysts' expectations of $22.96 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business's revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 1.25 earnings per share for the current fiscal year.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s China-made Model 3 and Model Y sales have rebounded for a sixth straight month, and imports into Europe are rising, reinforcing signs that overseas demand is improving. Tesla Stock Is on a Winning Streak with China-Made EVs. Its Imports to Europe Are Increasing.
• Positive Sentiment: Piper Sandler reiterated an Overweight rating and a $500 price target, saying investors may be “buying Optimus for free,” which supports the bull case around Tesla’s AI and robotics value. Tesla: Buying at these levels means you get Optimus for 'free', Piper Sandler says
• Positive Sentiment: Investors are also bidding up the stock on expectations for more AI and autonomous-driving news, including robotaxi expansion and possible China Full Self-Driving progress. Tesla Stock Is Starting a Run Higher. Thank China AI.
• Positive Sentiment: Tesla’s AI Vision safety claims and broader robotaxi commentary are helping keep sentiment focused on the company’s longer-term autonomy story rather than just EV sales. Elon Musk Says Tesla AI Vision Deploys Airbags 'Before Impact' To Cut Injury, Death Risk, Upgrade 'Comes For Free On All New Cars'
• Neutral Sentiment: Reports that Tesla has built its final Model S and Model X vehicles mark an end of an era, but the impact on the stock is unclear since those models are a smaller part of the growth story now. End of an era: Tesla has built its final Model S and Model X vehicles
• Negative Sentiment: Tesla also faces overhangs from a Cybertruck recall and renewed competitive pressure in the EV market, which could temper enthusiasm if execution issues persist. Tesla recalls every Cybertruck RWD ever sold — all 173 of them — because the wheels could fall off
• Negative Sentiment: One article argues investors should favor Alphabet’s driverless-car exposure instead of Tesla, highlighting that some market participants still see more attractive valuations elsewhere in autonomous driving. Forget Tesla, Investors Should Buy Alphabet Stock Instead

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Tesla from $130.00 to $125.00 and set an "underweight" rating for the company in a report on Thursday, January 29th. UBS Group reaffirmed a "neutral" rating and set a $364.00 target price (up from $352.00) on shares of Tesla in a research report on Thursday, April 23rd. China Renaissance cut their target price on Tesla from $382.00 to $372.00 and set a "hold" rating on the stock in a research report on Monday, April 27th. Wedbush reaffirmed an "outperform" rating and set a $600.00 target price on shares of Tesla in a research report on Tuesday, April 21st. Finally, Truist Financial cut their target price on Tesla from $438.00 to $400.00 and set a "hold" rating on the stock in a research report on Thursday, April 2nd. Nineteen research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $398.42.

Tesla Company Profile

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.

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