Jackson Thornton Wealth Management LLC Purchases 375 Shares of Tesla, Inc. $TSLA

Jackson Thornton Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 22.6% in the second quarter, HoldingsChannel.com reports. The fund owned 2,035 shares of the electric vehicle producer’s stock after buying an additional 375 shares during the period. Jackson Thornton Wealth Management LLC’s holdings in Tesla were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Merchants Corp grew its position in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after acquiring an additional 31 shares during the period. Alaska Wealth Advisors grew its position in shares of Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after acquiring an additional 32 shares during the period. KWB Wealth grew its position in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after acquiring an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. grew its position in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after acquiring an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. grew its position in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after acquiring an additional 34 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TSLA shares. Royal Bank Of Canada raised their target price on shares of Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Piper Sandler raised their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. CICC Research raised their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Dbs Bank raised their target price on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $363.54.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of Tesla stock opened at $447.43 on Tuesday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $389.71 and a two-hundred day simple moving average of $335.51. The stock has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 258.63, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.