Tesla, Inc. $TSLA Holdings Increased by IHT Wealth Management LLC

IHT Wealth Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 194,873 shares of the electric vehicle producer’s stock after acquiring an additional 4,632 shares during the period. Tesla accounts for approximately 1.7% of IHT Wealth Management LLC’s holdings, making the stock its 7th largest holding. IHT Wealth Management LLC’s holdings in Tesla were worth $61,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Gallagher Fiduciary Advisors LLC boosted its holdings in shares of Tesla by 1.9% in the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 6,584 shares of the electric vehicle producer’s stock worth $2,091,000 after purchasing an additional 124 shares during the period. EP Wealth Advisors LLC lifted its position in Tesla by 12.1% in the second quarter. EP Wealth Advisors LLC now owns 102,944 shares of the electric vehicle producer’s stock worth $32,701,000 after buying an additional 11,080 shares during the last quarter. East Coast Asset Management LLC. boosted its stake in Tesla by 12.5% during the second quarter. East Coast Asset Management LLC. now owns 59,379 shares of the electric vehicle producer’s stock worth $18,862,000 after buying an additional 6,610 shares during the period. Engineers Gate Manager LP bought a new position in Tesla during the second quarter valued at $908,000. Finally, Curi Capital LLC raised its stake in shares of Tesla by 297.1% in the second quarter. Curi Capital LLC now owns 15,279 shares of the electric vehicle producer’s stock valued at $4,854,000 after acquiring an additional 11,431 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director directly owned 1,391,615 shares in the company, valued at $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 119,457 shares of company stock valued at $52,137,945 in the last 90 days. Insiders own 19.90% of the company’s stock.

Tesla Stock Up 2.7%

Tesla stock opened at $458.96 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.53 trillion, a P/E ratio of 305.97, a P/E/G ratio of 15.09 and a beta of 1.87. The business has a fifty day moving average of $435.52 and a two-hundred day moving average of $376.19. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the business posted $0.72 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Dbs Bank raised shares of Tesla to a “hold” rating in a research note on Wednesday, November 5th. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Barclays reiterated a “neutral” rating and issued a $350.00 price target on shares of Tesla in a report on Monday, December 1st. Evercore ISI boosted their price objective on Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, UBS Group reiterated a “sell” rating on shares of Tesla in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $399.33.

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.