Meeder Advisory Services Inc. Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Meeder Advisory Services Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 47,127 shares of the electric vehicle producer’s stock after buying an additional 1,158 shares during the period. Tesla makes up approximately 0.7% of Meeder Advisory Services Inc.’s portfolio, making the stock its 24th largest holding. Meeder Advisory Services Inc.’s holdings in Tesla were worth $12,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Geode Capital Management LLC grew its stake in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. FMR LLC grew its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Northern Trust Corp grew its stake in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock worth $9,908,828,000 after purchasing an additional 158,697 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Tesla by 19.8% during the 4th quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer’s stock worth $5,294,010,000 after purchasing an additional 2,170,449 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Raymond James Financial lowered shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Argus reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. China Renaissance reiterated a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research report on Friday. Finally, BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $302.75.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 723,119 shares of company stock worth $247,324,149 in the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.0%

NASDAQ TSLA opened at $325.59 on Tuesday. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a 50-day moving average of $324.37 and a 200-day moving average of $313.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.05 trillion, a P/E ratio of 188.20, a P/E/G ratio of 9.93 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.