Inman Jager Wealth Management LLC Acquires Shares of 1,136 Tesla, Inc. (NASDAQ:TSLA)

Inman Jager Wealth Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,136 shares of the electric vehicle producer’s stock, valued at approximately $459,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LCM Capital Management Inc grew its holdings in shares of Tesla by 9.9% during the fourth quarter. LCM Capital Management Inc now owns 1,373 shares of the electric vehicle producer’s stock valued at $555,000 after buying an additional 124 shares in the last quarter. Private Management Group Inc. purchased a new stake in Tesla in the 4th quarter worth approximately $298,000. Vestia Personal Wealth Advisors grew its stake in Tesla by 114.3% in the fourth quarter. Vestia Personal Wealth Advisors now owns 2,734 shares of the electric vehicle producer’s stock valued at $1,104,000 after purchasing an additional 1,458 shares in the last quarter. Tectonic Advisors LLC acquired a new position in Tesla in the fourth quarter worth approximately $257,000. Finally, Money Concepts Capital Corp raised its holdings in shares of Tesla by 22.8% during the 4th quarter. Money Concepts Capital Corp now owns 5,188 shares of the electric vehicle producer’s stock valued at $2,095,000 after purchasing an additional 963 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their target price on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Truist Financial raised their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $322.29.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 560,776 shares of company stock valued at $203,744,862 in the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of TSLA stock opened at $361.62 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. 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 $1.16 trillion, a price-to-earnings ratio of 177.27, a PEG ratio of 6.22 and a beta of 2.34. The stock has a 50-day moving average price of $408.27 and a 200 day moving average price of $303.93.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 10.31% and a net margin of 7.26%. Research analysts expect that Tesla, Inc. will post 2.54 EPS for the current year.

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.