JFG Wealth Management LLC Sells 2,646 Shares of Tesla, Inc. $TSLA

JFG Wealth Management LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 59.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,830 shares of the electric vehicle producer’s stock after selling 2,646 shares during the period. JFG Wealth Management LLC’s holdings in Tesla were worth $581,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. National Pension Service increased its stake in Tesla by 3.3% during the 2nd quarter. National Pension Service now owns 5,517,336 shares of the electric vehicle producer’s stock valued at $1,752,637,000 after purchasing an additional 176,645 shares in the last quarter. Glynn Capital Management LLC acquired a new stake in shares of Tesla in the 2nd quarter worth about $35,000. IMA Advisory Services Inc. boosted its stake in Tesla by 1.4% during the 2nd quarter. IMA Advisory Services Inc. now owns 9,420 shares of the electric vehicle producer’s stock valued at $2,992,000 after purchasing an additional 131 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in Tesla by 87.1% during the 2nd quarter. Simplify Asset Management Inc. now owns 24,141 shares of the electric vehicle producer’s stock worth $7,669,000 after purchasing an additional 11,237 shares in the last quarter. Finally, STF Management LP raised its stake in shares of Tesla by 3.1% in the second quarter. STF Management LP now owns 22,021 shares of the electric vehicle producer’s stock worth $6,995,000 after purchasing an additional 670 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TSLA shares. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research report on Wednesday, November 5th. Truist Financial upped their target price on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. HSBC upped their price objective on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, Cantor Fitzgerald set a $510.00 price objective on shares of Tesla and gave the stock an “overweight” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eleven have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $391.08.

Tesla Stock Down 1.3%

Tesla stock opened at $439.62 on Wednesday. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 293.08, a P/E/G ratio of 16.84 and a beta of 2.06. The firm has a 50 day simple moving average of $425.40 and a 200 day simple moving average of $358.68. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate 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.