IHT Wealth Management LLC Has $61.90 Million Position in Tesla, Inc. $TSLA

IHT Wealth Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,873 shares of the electric vehicle producer’s stock after acquiring an additional 4,632 shares during the quarter. Tesla accounts for approximately 1.7% of IHT Wealth Management LLC’s holdings, making the stock its 7th largest position. IHT Wealth Management LLC’s holdings in Tesla were worth $61,904,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Holos Integrated Wealth LLC raised its position in Tesla by 10.8% in the 2nd quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock worth $102,000 after buying an additional 30 shares during the last quarter. First Merchants Corp raised its holdings in shares of Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the last quarter. Kaye Capital Management lifted its position in Tesla by 3.1% during the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock valued at $333,000 after purchasing an additional 31 shares during the period. Spectrum Wealth Advisory Group LLC boosted its holdings in Tesla by 3.4% in the second quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock worth $299,000 after purchasing an additional 31 shares during the last quarter. Finally, Wambolt & Associates LLC raised its stake in Tesla by 1.0% during the 2nd quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock valued at $938,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction 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 sale, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 119,457 shares of company stock worth $52,137,945 over the last quarter. Insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. BNP Paribas lifted their price objective on Tesla from $307.00 to $313.00 in a report on Monday, December 1st. Truist Financial boosted their price target on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Cantor Fitzgerald set a $510.00 price objective on shares of Tesla and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, UBS Group reaffirmed a “sell” rating on shares of Tesla in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $399.33.

Tesla Stock Up 2.7%

Shares of TSLA stock opened at $458.96 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company’s fifty day moving average price is $435.52 and its 200-day moving average price is $376.19. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 305.97, a PEG ratio of 15.09 and a beta of 1.87.

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

About Tesla

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.