JGP Wealth Management LLC Purchases 147 Shares of Tesla, Inc. (NASDAQ:TSLA)

JGP Wealth Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,999 shares of the electric vehicle producer’s stock after buying an additional 147 shares during the quarter. JGP Wealth Management LLC’s holdings in Tesla were worth $1,615,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TSLA. Ritholtz Wealth Management grew its stake in shares of Tesla by 9.9% in the 4th quarter. Ritholtz Wealth Management now owns 38,832 shares of the electric vehicle producer’s stock valued at $15,682,000 after purchasing an additional 3,512 shares during the period. Carnegie Investment Counsel boosted its stake in Tesla by 5.7% in the 4th quarter. Carnegie Investment Counsel now owns 7,009 shares of the electric vehicle producer’s stock valued at $2,831,000 after buying an additional 379 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Tesla by 191.5% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,020 shares of the electric vehicle producer’s stock valued at $1,220,000 after acquiring an additional 1,984 shares during the period. Tallon Kerry Patrick acquired a new position in Tesla during the fourth quarter worth $374,000. Finally, Towerpoint Wealth LLC bought a new position in shares of Tesla during the fourth quarter valued at $337,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by insiders.

Tesla Stock Up 3.1 %

Tesla stock opened at $426.50 on Friday. The company has a 50 day moving average of $387.84 and a 200-day moving average of $286.58. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market capitalization of $1.37 trillion, a PE ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and upped their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Cantor Fitzgerald boosted their target price on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley raised their price target on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Truist Financial reissued a “hold” rating and issued a $360.00 price objective on shares of Tesla in a research note on Thursday, January 2nd. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $299.33.

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.