Meritage Portfolio Management Has $479,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Meritage Portfolio Management trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,927 shares of the electric vehicle producer’s stock after selling 194 shares during the quarter. Meritage Portfolio Management’s holdings in Tesla were worth $479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. International Assets Investment Management LLC grew its holdings in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after acquiring an additional 3,453,078 shares during the period. California Public Employees Retirement System lifted its position in shares of Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock valued at $2,260,039,000 after acquiring an additional 2,293,344 shares during the period. Morgan Stanley lifted its position in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after acquiring an additional 909,170 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their price objective on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. The Goldman Sachs Group dropped their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. HSBC dropped their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday. Mizuho dropped their target price on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, TD Cowen dropped their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $186.70.

Tesla Trading Down 1.3 %

TSLA stock traded down $2.28 during mid-day trading on Friday, reaching $167.90. The company’s stock had a trading volume of 91,403,761 shares, compared to its average volume of 103,077,305. The company has a market cap of $534.73 billion, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 4.28 and a beta of 2.39. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The business’s 50 day moving average price is $175.67 and its 200 day moving average price is $208.64. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. On average, equities research analysts predict that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last quarter. 25.10% of the stock is currently 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.