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

JDH Wealth Management LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,449 shares of the electric vehicle producer’s stock, valued at approximately $585,000. Tesla makes up 0.5% of JDH Wealth Management LLC’s portfolio, making the stock its 25th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nilsine Partners LLC lifted its stake in shares of Tesla by 0.5% during the fourth quarter. Nilsine Partners LLC now owns 14,322 shares of the electric vehicle producer’s stock worth $5,784,000 after purchasing an additional 77 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in Tesla by 4.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,101 shares of the electric vehicle producer’s stock worth $14,579,000 after acquiring an additional 1,407 shares in the last quarter. tru Independence LLC purchased a new position in Tesla in the 4th quarter worth approximately $233,000. Cornell Pochily Investment Advisors Inc. grew its position in Tesla by 10.0% in the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 3,639 shares of the electric vehicle producer’s stock valued at $1,469,000 after acquiring an additional 330 shares in the last quarter. Finally, Summit Financial Strategies Inc. raised its stake in shares of Tesla by 14.0% during the fourth quarter. Summit Financial Strategies Inc. now owns 10,772 shares of the electric vehicle producer’s stock valued at $4,350,000 after purchasing an additional 1,321 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group raised their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Guggenheim reaffirmed a “sell” rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday. Finally, Piper Sandler raised their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $318.31.

Tesla Stock Up 2.9 %

TSLA stock opened at $400.28 on Friday. The firm’s 50-day moving average is $401.98 and its two-hundred day moving average is $297.28. The company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 109.67, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. On average, analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $31,548,461.84. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, 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 553,386 shares of company stock valued at $196,305,796 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla 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.