Iams Wealth Management LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Iams Wealth Management LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 29.0% in the first quarter, Holdings Channel reports. The fund owned 3,574 shares of the electric vehicle producer’s stock after selling 1,463 shares during the period. Iams Wealth Management LLC’s holdings in Tesla were worth $926,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vista Finance LLC lifted its stake in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares during the last quarter. Jmac Enterprises LLC raised its holdings in Tesla by 0.7% during the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after purchasing an additional 26 shares in the last quarter. TFB Advisors LLC raised its holdings in Tesla by 0.5% during the fourth quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock worth $2,105,000 after purchasing an additional 27 shares in the last quarter. Vista Capital Partners Inc. raised its holdings in Tesla by 1.4% during the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock worth $795,000 after purchasing an additional 27 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC raised its holdings in Tesla by 1.3% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director now owns 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 866,393 shares of company stock valued at $284,570,654. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on TSLA shares. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a report on Tuesday, April 22nd. Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Mizuho lifted their target price on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $293.97.

Tesla Stock Up 0.5%

Shares of NASDAQ:TSLA opened at $344.27 on Wednesday. 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 52-week low of $167.41 and a 52-week high of $488.54. The company has a 50 day moving average of $289.75 and a two-hundred day moving average of $334.35. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 168.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the business earned $0.45 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.