Iams Wealth Management LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Iams Wealth Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,574 shares of the electric vehicle producer's stock after selling 1,463 shares during the quarter. Iams Wealth Management LLC's holdings in Tesla were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vista Finance LLC boosted its position in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after buying an additional 25 shares during the period. Jmac Enterprises LLC raised its holdings in shares of Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock valued at $1,569,000 after buying an additional 26 shares during the period. TFB Advisors LLC lifted its stake in Tesla by 0.5% during the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer's stock worth $2,105,000 after acquiring an additional 27 shares in the last quarter. Vista Capital Partners Inc. boosted its holdings in Tesla by 1.4% during the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer's stock valued at $795,000 after acquiring an additional 27 shares during the period. Finally, Blackston Financial Advisory Group LLC grew its position in Tesla by 1.3% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer's stock valued at $875,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Raymond James lowered shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Argus set a $410.00 price target on shares of Tesla in a research note on Thursday, April 24th. Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Wedbush set a $500.00 target price on Tesla in a report on Thursday. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $294.27.

Tesla Stock Performance

Tesla stock traded up $11.57 during mid-day trading on Friday, reaching $296.27. 138,306,792 shares of the company were exchanged, compared to its average volume of 109,076,523. The firm's 50-day simple moving average is $291.63 and its two-hundred day simple moving average is $333.97. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The firm has a market cap of $954.27 billion, a PE ratio of 145.23, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares of the company's stock, valued at $682,500. This represents a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 870,721 shares of company stock worth $286,248,728. Company insiders own 20.70% of the company's stock.

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.