Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management Inc. significantly reduced its stake in Tesla, selling 52,853 shares and now holding 17,614 shares, valued at approximately $4.57 million.
• Insider activity includes Tesla's CFO Vaibhav Taneja, who sold 2,000 shares for $600,000, and director Kimbal Musk, who sold 91,588 shares for over $32 million.
• Analysts have varying ratings on Tesla's stock, with a consensus rating of "Hold" and a price target of $302.75, while shares are currently trading near $325.59.

Meeder Asset Management Inc. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 75.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,614 shares of the electric vehicle producer's stock after selling 52,853 shares during the period. Meeder Asset Management Inc.'s holdings in Tesla were worth $4,565,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in Tesla in the 4th quarter valued at $56,600,000. Means Investment CO. Inc. increased its stake in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. lifted its position in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after purchasing an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla in the 4th quarter worth approximately $8,158,000. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $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. Insiders sold 719,119 shares of company stock worth $246,186,549 in the last 90 days. Company insiders own 20.70% of the company's stock.

Tesla Trading Down 1.5%

Shares of NASDAQ:TSLA traded down $4.54 on Friday, reaching $303.73. 68,494,559 shares of the company traded hands, compared to its average volume of 107,762,578. The business's 50-day simple moving average is $322.96 and its 200 day simple moving average is $312.48. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The stock has a market capitalization of $979.68 billion, a P/E ratio of 175.82, a price-to-earnings-growth ratio of 11.21 and a beta of 2.39.

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

Analyst Ratings Changes

TSLA has been the topic of several research reports. The Goldman Sachs Group reduced their target price on Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $303.31.

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.