Jackson Thornton Wealth Management LLC Takes $773,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Jackson Thornton Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel reports. The firm bought 1,915 shares of the electric vehicle producer’s stock, valued at approximately $773,000.

A number of other institutional investors have also modified their holdings of TSLA. Swedbank AB raised its stake in shares of Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares in the last quarter. United Bank acquired a new stake in shares of Tesla in the 3rd quarter valued at about $287,000. Advisors Asset Management Inc. grew its position in shares of Tesla by 0.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer’s stock valued at $2,347,000 after buying an additional 80 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Tesla by 61.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer’s stock valued at $30,151,000 after buying an additional 43,950 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Up 5.3 %

TSLA stock opened at $248.71 on Monday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market cap of $799.98 billion, a PE ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50. The firm has a 50 day simple moving average of $335.19 and a 200 day simple moving average of $321.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research report on Monday, January 6th. Benchmark began coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $550.00 price objective on shares of Tesla in a research report on Thursday. Mizuho lowered their price objective on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $318.93.

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.