Iams Wealth Management LLC Has $2.34 Million Stock Position in Tesla, Inc. $TSLA

Key Points

• Iams Wealth Management LLC increased its Tesla stock position by 105.7%, owning 7,351 shares worth approximately $2.34 million, making Tesla the company’s 25th largest position.
• Multiple institutional investors, including Means Investment CO. Inc. and Zuckerman Investment Group LLC, have also significantly increased their holdings in Tesla, with 66.20% of the stock owned by hedge funds and institutional investors.
• Wall Street analysts have mixed views on Tesla, with target prices ranging from $175 to $475 and an average rating of "Hold" based on recent performance.

Iams Wealth Management LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 105.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,351 shares of the electric vehicle producer's stock after purchasing an additional 3,777 shares during the quarter. Tesla comprises about 1.1% of Iams Wealth Management LLC's investment portfolio, making the stock its 25th largest position. Iams Wealth Management LLC's holdings in Tesla were worth $2,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in Tesla in the 1st quarter valued at about $3,247,619,000. GAMMA Investing LLC grew its stake in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Kingstone Capital Partners Texas LLC grew its stake in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Finally, Amundi grew its stake in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. CICC Research increased their price objective on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research note on Thursday. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. The Goldman Sachs Group upped their target price on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a report on Thursday. Piper Sandler upped their target price on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday. Finally, Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $324.53.

Tesla Stock Performance

TSLA traded up $8.14 during trading hours on Monday, hitting $434.21. 96,526,944 shares of the stock were exchanged, compared to its average volume of 86,280,128. The stock has a 50-day simple moving average of $343.03 and a 200-day simple moving average of $309.87. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 250.99, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last ninety days. 19.90% 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.