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

Meeder Advisory Services Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,794 shares of the electric vehicle producer’s stock after buying an additional 3,299 shares during the quarter. Tesla accounts for approximately 0.7% of Meeder Advisory Services Inc.’s portfolio, making the stock its 26th largest holding. Meeder Advisory Services Inc.’s holdings in Tesla were worth $10,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank & Trust Co purchased a new stake in Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new stake in Tesla in the third quarter worth about $29,000. Finally, Clean Yield Group lifted its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock worth $57,616,781 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Wolfe Research assumed coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $230.18.

Tesla Stock Performance

NASDAQ:TSLA opened at $339.29 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $252.30 and a two-hundred day moving average price of $221.01. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64. The company has a market capitalization of $1.09 trillion, a P/E ratio of 87.87, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate 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 firm posted $0.53 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 1.99 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.