Meadow Creek Wealth Advisors LLC Takes $479,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Meadow Creek Wealth Advisors LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,185 shares of the electric vehicle producer’s stock, valued at approximately $479,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares in the last quarter. Finley Financial LLC acquired a new stake in shares of Tesla in the fourth quarter valued at $64,000. Finally, Abich Financial Wealth Management LLC grew its holdings in Tesla by 136.4% during the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after acquiring an additional 176 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 560,776 shares of company stock worth $203,744,862 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Trading Down 3.4 %

Shares of NASDAQ:TSLA opened at $361.62 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock’s 50-day moving average is $408.27 and its 200-day moving average is $303.93. The company has a market cap of $1.16 trillion, a P/E ratio of 177.27, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. Equities research analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, January 30th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Piper Sandler boosted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $322.29.

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.