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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Vanguard Group Inc. grew its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. Amundi increased its position in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wedbush boosted their price target on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $355.00 target price on shares of Tesla in a research note on Friday, October 3rd. Benchmark reaffirmed a “buy” rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. HSBC increased their price objective on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Finally, Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $354.67.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last quarter. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

TSLA opened at $413.49 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock’s 50 day simple moving average is $375.97 and its 200 day simple moving average is $327.89. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 15.01 and a beta of 2.08. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

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

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.