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

Iams Wealth Management LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 35.1% in the first quarter, according to its most recent Form 13F filing with the Securities and 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 reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Apexium Financial LP raised its holdings in Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after acquiring an additional 21,972 shares in the last quarter. Mount Vernon Associates Inc. MD lifted its holdings in Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares in the last quarter. Forum Financial Management LP raised its position in shares of Tesla by 19.7% during the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after acquiring an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC grew its position in shares of Tesla by 9.4% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after buying an additional 598 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TSLA shares. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Tuesday. Mizuho lowered their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a report on Wednesday, April 24th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. dropped their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $187.30.

Tesla Stock Up 10.2 %

Shares of NASDAQ:TSLA opened at $231.26 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market cap of $737.53 billion, a P/E ratio of 59.00, a P/E/G ratio of 4.91 and a beta of 2.31. The business has a fifty day simple moving average of $179.16 and a 200 day simple moving average of $191.09. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Analysts predict that Tesla, Inc. will post 1.86 earnings per share for the current year.

Insider Activity at Tesla

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

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.