Jackson Wealth Management LLC Sells 435 Shares of Tesla, Inc. $TSLA

Jackson Wealth Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 20.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,734 shares of the electric vehicle producer’s stock after selling 435 shares during the quarter. Jackson Wealth Management LLC’s holdings in Tesla were worth $551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Curran Financial Partners LLC increased its stake in shares of Tesla by 10.4% in the 2nd quarter. Curran Financial Partners LLC now owns 1,599 shares of the electric vehicle producer’s stock valued at $508,000 after purchasing an additional 150 shares during the last quarter. Stock Yards Bank & Trust Co. increased its stake in shares of Tesla by 6.2% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 9,782 shares of the electric vehicle producer’s stock valued at $3,107,000 after purchasing an additional 573 shares during the last quarter. Montz Harcus Wealth Management LLC increased its stake in shares of Tesla by 9.4% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,423 shares of the electric vehicle producer’s stock valued at $770,000 after purchasing an additional 209 shares during the last quarter. Whelan Financial increased its stake in shares of Tesla by 2.3% in the 2nd quarter. Whelan Financial now owns 2,361 shares of the electric vehicle producer’s stock valued at $750,000 after purchasing an additional 54 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Tesla by 17.0% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 68,902 shares of the electric vehicle producer’s stock worth $21,887,000 after acquiring an additional 9,987 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.4%

TSLA stock opened at $429.83 on Friday. The stock’s 50 day simple moving average is $364.02 and its 200 day simple moving average is $321.99. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.43 trillion, a P/E ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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 return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research report on Saturday, September 27th. Benchmark restated a “buy” rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Canaccord Genuity Group boosted their price objective on Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. CICC Research boosted their price objective on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Finally, China Renaissance restated a “hold” rating and set a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $343.43.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by company insiders.

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.