Gamble Jones Investment Counsel Acquires New Stake in Tesla Inc. (TSLA)

Gamble Jones Investment Counsel acquired a new position in Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 610 shares of the electric vehicle producer’s stock, valued at approximately $221,000.

Several other institutional investors have also bought and sold shares of TSLA. Crestwood Advisors Group LLC acquired a new position in Tesla during the first quarter worth approximately $101,000. SRS Capital Advisors Inc. increased its position in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares in the last quarter. Winfield Associates Inc. increased its position in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares in the last quarter. Advisory Services Network LLC acquired a new position in Tesla during the first quarter worth approximately $122,000. Finally, Acropolis Investment Management LLC acquired a new position in Tesla during the second quarter worth approximately $122,000. Institutional investors own 63.78% of the company’s stock.

Shares of Tesla Inc. (NASDAQ:TSLA) opened at 335.07 on Friday. The firm’s market cap is $55.04 billion. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $386.99. The firm has a 50-day moving average of $348.29 and a 200-day moving average of $299.70.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $1.30. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.56 billion. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. On average, analysts anticipate that Tesla Inc. will post ($5.99) EPS for the current year.

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A number of equities analysts have recently commented on TSLA shares. Guggenheim increased their price objective on shares of Tesla from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, April 3rd. Zacks Investment Research upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective for the company in a research note on Tuesday, April 25th. Dougherty & Co restated a “buy” rating and set a $375.00 price objective (down from $500.00) on shares of Tesla in a research note on Wednesday, April 26th. Berenberg Bank upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the stock from $193.00 to $464.00 in a research note on Tuesday, June 13th. Finally, Global Equities Research restated a “buy” rating and set a $385.00 price objective on shares of Tesla in a research note on Tuesday, June 13th. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $301.70.

In other news, Director Kimbal Musk sold 2,500 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $315.67, for a total value of $789,175.00. Following the transaction, the director now owns 168,355 shares of the company’s stock, valued at approximately $53,144,622.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey B. Straubel sold 106,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $307.44, for a total transaction of $32,588,640.00. The disclosure for this sale can be found here. Insiders sold a total of 242,290 shares of company stock worth $74,919,505 in the last three months. Insiders own 23.10% of the company’s stock.

About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.