Iams Wealth Management LLC Has $211,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Iams Wealth Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 35.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the electric vehicle producer’s stock after selling 649 shares during the period. Iams Wealth Management LLC’s holdings in Tesla were worth $211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at approximately $7,844,757,000. International Assets Investment Management LLC increased its stake in shares of Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. Morgan Stanley boosted its stake in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after acquiring an additional 1,402,443 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $275.00 price target on shares of Tesla in a research note on Friday, June 14th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price on shares of Tesla in a research note on Monday, April 22nd. Guggenheim reiterated a “sell” rating and issued a $126.00 price target on shares of Tesla in a research note on Tuesday, June 25th. Citigroup restated a “neutral” rating on shares of Tesla in a research report on Wednesday, June 12th. Finally, Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $187.30.

Tesla Price Performance

Tesla stock opened at $231.26 on Wednesday. The business has a fifty day moving average price of $179.16 and a 200-day moving average price of $191.09. The firm has a market capitalization of $737.53 billion, a P/E ratio of 59.00, a PEG ratio of 4.91 and a beta of 2.31. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. As a group, equities research analysts forecast that Tesla, Inc. will post 1.86 EPS for the current year.

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.