Merit Financial Group LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Merit Financial Group LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,251 shares of the electric vehicle producer's stock after selling 6,653 shares during the quarter. Merit Financial Group LLC's holdings in Tesla were worth $13,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Holderness Investments Co. lifted its position in Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer's stock valued at $650,000 after acquiring an additional 42 shares during the last quarter. SCS Capital Management LLC boosted its position in shares of Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer's stock valued at $4,224,000 after purchasing an additional 45 shares during the period. Daymark Wealth Partners LLC grew its stake in Tesla by 0.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer's stock worth $2,622,000 after buying an additional 45 shares during the last quarter. ML & R Wealth Management LLC lifted its stake in Tesla by 2.6% in the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer's stock valued at $455,000 after buying an additional 46 shares during the last quarter. Finally, LCM Capital Management Inc grew its position in shares of Tesla by 3.5% during the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer's stock worth $344,000 after acquiring an additional 46 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Mizuho dropped their price objective on shares of Tesla from $195.00 to $180.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 24th. Canaccord Genuity Group lowered their target price on Tesla from $267.00 to $234.00 and set a "buy" rating on the stock in a research note on Thursday, January 25th. Citigroup upped their price target on Tesla from $180.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 24th. Canaccord Genuity Group lowered their target price on shares of Tesla from $234.00 to $222.00 and set a "buy" rating on the stock in a report on Wednesday, April 24th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $185.90.

Tesla Trading Up 0.7 %

TSLA stock traded up $1.18 during midday trading on Friday, hitting $181.19. The stock had a trading volume of 75,374,696 shares, compared to its average volume of 104,686,219. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The firm has a market cap of $577.85 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 4.89 and a beta of 2.41. The company's 50-day moving average price is $174.07 and its 200 day moving average price is $205.92. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Insider Activity

In related news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company's stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. Company insiders own 25.10% of the company's stock.

Tesla 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.

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