Meeder Asset Management Inc. Has $28.46 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Meeder Asset Management Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3,519.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,467 shares of the electric vehicle producer's stock after purchasing an additional 68,520 shares during the period. Tesla comprises 2.0% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 11th biggest position. Meeder Asset Management Inc.'s holdings in Tesla were worth $28,457,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Axiom Investors LLC DE boosted its holdings in shares of Tesla by 13.1% during the fourth quarter. Axiom Investors LLC DE now owns 64,475 shares of the electric vehicle producer's stock worth $26,038,000 after purchasing an additional 7,477 shares during the last quarter. AIA Group Ltd grew its position in Tesla by 27.4% during the fourth quarter. AIA Group Ltd now owns 106,226 shares of the electric vehicle producer's stock valued at $42,898,000 after acquiring an additional 22,852 shares during the period. Wellington Management Group LLP increased its position in Tesla by 38.5% during the 4th quarter. Wellington Management Group LLP now owns 10,174,135 shares of the electric vehicle producer's stock worth $4,108,723,000 after purchasing an additional 2,829,609 shares in the last quarter. Partners in Financial Planning purchased a new position in shares of Tesla in the 4th quarter valued at $303,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Tesla by 23.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 230,255 shares of the electric vehicle producer's stock valued at $92,986,000 after acquiring an additional 44,259 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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Tesla Stock Down 4.6 %

TSLA traded down $12.97 during trading on Thursday, reaching $269.79. 80,916,462 shares of the stock traded hands, compared to its average volume of 93,988,580. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock's 50-day simple moving average is $312.22 and its two-hundred day simple moving average is $323.20. The stock has a market cap of $867.78 billion, a price-to-earnings ratio of 132.25, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Monday, February 10th. UBS Group lowered their price objective on shares of Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Bank of America dropped their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Guggenheim reduced their target price on Tesla from $175.00 to $170.00 and set a "sell" rating for the company in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and an average price target of $314.84.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

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.