Meeder Advisory Services Inc. Acquires 3,299 Shares of Tesla, Inc. (NASDAQ:TSLA)

Meeder Advisory Services Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,794 shares of the electric vehicle producer's stock after acquiring an additional 3,299 shares during the quarter. Tesla accounts for 0.7% of Meeder Advisory Services Inc.'s investment portfolio, making the stock its 26th biggest position. Meeder Advisory Services Inc.'s holdings in Tesla were worth $10,411,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Connable Office Inc. raised its position in Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer's stock valued at $3,368,000 after purchasing an additional 38 shares during the period. Holistic Financial Partners lifted its position in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer's stock worth $1,061,000 after acquiring an additional 40 shares in the last quarter. Integris Wealth Management LLC boosted its holdings in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer's stock worth $804,000 after acquiring an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc grew its position in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer's stock valued at $800,000 after acquiring an additional 43 shares in the last quarter. Finally, Echo Wealth Management LLC raised its stake in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer's stock valued at $1,281,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on TSLA shares. Barclays boosted their price target on Tesla from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Jefferies Financial Group upped their target price on shares of Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a research note on Thursday. Canaccord Genuity Group boosted their price objective on Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Citigroup reduced their target price on Tesla from $274.00 to $258.00 and set a "neutral" rating on the stock in a report on Wednesday, July 24th. Finally, KGI Securities upgraded Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 target price for the company in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $230.18.

Tesla Trading Up 5.6 %

TSLA traded up $18.02 during trading on Monday, reaching $338.74. The company had a trading volume of 125,930,883 shares, compared to its average volume of 96,161,813. The firm's 50-day simple moving average is $252.30 and its 200 day simple moving average is $221.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 94.60, a PEG ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts' expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,797 shares of company stock valued at $57,616,781. Company insiders own 20.70% 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.