Gilliland Jeter Wealth Management LLC Buys 297 Shares of Tesla, Inc. $TSLA

Gilliland Jeter Wealth Management LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,841 shares of the electric vehicle producer’s stock after buying an additional 297 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Tesla were worth $585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Merchants Corp boosted its stake in Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares in the last quarter. KWB Wealth lifted its holdings in shares of Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. grew its stake 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 worth $310,000 after buying an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. raised its stake in Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares during the last quarter. Finally, Kelly Financial Services LLC boosted its holdings in Tesla by 2.7% in the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock worth $423,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 5.1%

NASDAQ:TSLA opened at $413.49 on Friday. The company has a 50 day simple moving average of $375.97 and a two-hundred day simple moving average of $327.89. The company has a market cap of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.01 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on TSLA. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Mizuho boosted their price objective on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $354.67.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was 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 in the company, 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. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 in the last three months. 19.90% of the stock is currently owned by company insiders.

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.