Jamison Private Wealth Management Inc. Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Jamison Private Wealth Management Inc. grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.5% during the third quarter, Holdings Channel.com reports. The fund owned 19,578 shares of the electric vehicle producer’s stock after purchasing an additional 843 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Tesla were worth $5,122,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TSLA. Braun Bostich & Associates Inc. increased its holdings in Tesla by 2.1% during the 3rd quarter. Braun Bostich & Associates Inc. now owns 2,819 shares of the electric vehicle producer’s stock worth $738,000 after purchasing an additional 59 shares during the period. Acorn Creek Capital LLC grew its position in shares of Tesla by 9.4% during the 3rd quarter. Acorn Creek Capital LLC now owns 2,449 shares of the electric vehicle producer’s stock worth $641,000 after buying an additional 211 shares in the last quarter. EdgeRock Capital LLC increased its stake in shares of Tesla by 13.2% during the third quarter. EdgeRock Capital LLC now owns 6,782 shares of the electric vehicle producer’s stock valued at $1,774,000 after buying an additional 791 shares during the period. Lynch & Associates IN lifted its stake in Tesla by 5.6% in the third quarter. Lynch & Associates IN now owns 1,538 shares of the electric vehicle producer’s stock worth $402,000 after acquiring an additional 81 shares during the period. Finally, First United Bank & Trust grew its holdings in Tesla by 222.3% during the 3rd quarter. First United Bank & Trust now owns 1,776 shares of the electric vehicle producer’s stock worth $465,000 after acquiring an additional 1,225 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Stifel Nicolaus assumed coverage on Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $230.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Piper Sandler raised their price target on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $210.72.

Tesla Trading Up 0.2 %

Shares of TSLA stock opened at $219.57 on Wednesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The firm has a market capitalization of $700.25 billion, a P/E ratio of 56.01, a PEG ratio of 6.48 and a beta of 2.29. The stock’s fifty day moving average is $226.22 and its two-hundred day moving average is $204.57. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 over the last ninety days. Corporate insiders own 25.10% of the company’s stock.

About Tesla

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.