JDM Financial Group LLC Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

JDM Financial Group LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 635 shares of the electric vehicle producer’s stock, valued at approximately $166,000.

Other institutional investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new stake in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC boosted its holdings in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter worth about $29,000. Clean Yield Group raised its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in shares of Tesla in the third quarter worth about $35,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 7.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 522,886 shares of company stock valued at $171,393,831 in the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Up 0.1 %

NASDAQ:TSLA opened at $389.79 on Tuesday. The stock has a 50-day simple moving average of $288.09 and a 200-day simple moving average of $240.67. The stock has a market cap of $1.25 trillion, a P/E ratio of 106.79, a P/E/G ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $404.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Truist Financial raised their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. HSBC restated a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Jefferies Financial Group lifted their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Guggenheim lifted their price target on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday, December 5th. Finally, Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Nine analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $248.12.

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.