Jacksonville Wealth Management LLC Buys Shares of 1,757 Tesla, Inc. (NASDAQ:TSLA)

Jacksonville Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,757 shares of the electric vehicle producer’s stock, valued at approximately $710,000.

A number of other large investors have also recently bought and sold shares of TSLA. Hengehold Capital Management LLC boosted its stake in shares of Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares during the period. Acropolis Investment Management LLC boosted its position in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD raised its position in shares of Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the period. Albion Financial Group UT lifted its stake in shares of Tesla by 0.5% during the 4th quarter. Albion Financial Group UT now owns 7,099 shares of the electric vehicle producer’s stock worth $2,867,000 after buying an additional 34 shares during the last quarter. Finally, Connable Office Inc. boosted its holdings in shares of Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after buying an additional 38 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $398.31 on Wednesday. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 109.13, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company’s fifty day moving average is $399.99 and its 200 day moving average is $295.57. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated 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 directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock worth $212,451,751 over the last ninety days. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald raised their price objective on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a report on Thursday, October 24th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $313.84.

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.