Maridea Wealth Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Maridea Wealth Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,985 shares of the electric vehicle producer's stock, valued at approximately $1,205,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. raised its position in shares of Tesla by 1.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 12,757 shares of the electric vehicle producer's stock valued at $5,152,000 after purchasing an additional 204 shares during the period. RiverFront Investment Group LLC grew its stake in Tesla by 236.2% in the 4th quarter. RiverFront Investment Group LLC now owns 11,489 shares of the electric vehicle producer's stock valued at $4,640,000 after buying an additional 8,072 shares during the last quarter. Level Four Advisory Services LLC raised its holdings in Tesla by 2.1% in the 4th quarter. Level Four Advisory Services LLC now owns 23,097 shares of the electric vehicle producer's stock worth $9,327,000 after acquiring an additional 470 shares during the period. NBZ Investment Advisors LLC acquired a new position in Tesla during the 4th quarter worth $503,000. Finally, Vertex Planning Partners LLC bought a new stake in Tesla during the fourth quarter valued at about $347,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Evercore ISI boosted their price objective on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a research report on Friday, January 3rd. UBS Group cut their price target on Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a report on Monday, March 10th. Benchmark started coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a "buy" rating and a $475.00 price objective on the stock. Roth Mkm raised shares of Tesla from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group restated a "cautious" rating on shares of Tesla in a research report on Monday, March 3rd. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $317.75.

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Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of TSLA stock traded up $17.16 during trading hours on Tuesday, reaching $276.32. 70,865,224 shares of the company were exchanged, compared to its average volume of 96,377,461. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock's fifty day moving average is $317.98 and its two-hundred day moving average is $323.21. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market cap of $888.78 billion, a price-to-earnings ratio of 135.18, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.