IAG Wealth Partners LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

IAG Wealth Partners LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 43.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 388 shares of the electric vehicle producer’s stock after acquiring an additional 117 shares during the period. IAG Wealth Partners LLC’s holdings in Tesla were worth $101,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TSLA. True Wealth Design LLC increased its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. increased its stake in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. increased its stake in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC bought a new position in Tesla in the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the fourth quarter valued at $38,000. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a “buy” rating in a research note on Thursday, April 24th. Truist Financial set a $280.00 target price on Tesla in a research note on Tuesday, April 22nd. HSBC lowered their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Glj Research restated a “sell” rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Stock Performance

Shares of TSLA opened at $325.31 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $176.92 and a one year high of $488.54. The company has a 50-day simple moving average of $299.39 and a two-hundred day simple moving average of $332.88. The firm has a market capitalization of $1.05 trillion, a PE ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter last year, the business earned $0.45 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now owns 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 818,509 shares of company stock worth $273,791,775. Insiders own 20.70% of the company’s stock.

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.