Gilliland Jeter Wealth Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Gilliland Jeter Wealth Management LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 838 shares of the electric vehicle producer’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mount Vernon Associates Inc. MD increased its holdings in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after buying an additional 350 shares during the period. Oak Ridge Investments LLC increased its holdings in Tesla by 4.6% in the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after buying an additional 1,405 shares during the period. Corient Private Wealth LLC increased its holdings in Tesla by 3.7% in the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after buying an additional 25,943 shares during the period. J.W. Cole Advisors Inc. increased its holdings in Tesla by 16.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after buying an additional 6,615 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Tesla by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after buying an additional 81,729 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TSLA shares. Daiwa Capital Markets lowered shares of Tesla from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Barclays decreased their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. HSBC reduced their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a report on Wednesday. UBS Group reduced their target price on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, China Renaissance initiated coverage on shares of Tesla in a report on Monday, February 26th. They set a “hold” rating on the stock. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $186.70.

Tesla Stock Performance

TSLA traded down $1.89 during trading on Friday, hitting $168.29. 109,309,500 shares of the company traded hands, compared to its average volume of 100,050,800. The firm has a market cap of $536.71 billion, a P/E ratio of 42.93, a price-to-earnings-growth ratio of 4.50 and a beta of 2.39. The stock’s fifty day moving average is $175.04 and its 200 day moving average is $208.00. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. As a group, equities analysts predict that Tesla, Inc. will post 1.97 EPS for the current fiscal 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.