Integrated Wealth Concepts LLC Purchases 12,281 Shares of Tesla, Inc. (NASDAQ:TSLA)

Integrated Wealth Concepts LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.6% in the fourth quarter, Holdings Channel reports. The firm owned 102,581 shares of the electric vehicle producer’s stock after acquiring an additional 12,281 shares during the period. Integrated Wealth Concepts LLC’s holdings in Tesla were worth $41,427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hengehold Capital Management LLC lifted its holdings in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after acquiring an additional 24 shares during the period. Strategic Investment Advisors MI increased its stake in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares in the last quarter. Acropolis Investment Management LLC lifted its stake in Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD increased its stake in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares in the last quarter. Finally, Vista Finance LLC raised its holdings 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 valued at $1,417,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’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 value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $251.07 on Thursday. The company’s 50-day moving average is $267.29 and its two-hundred day moving average is $322.05. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $807.56 billion, a price-to-earnings ratio of 123.07, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12-month low of $157.51 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results 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). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the company posted $0.45 earnings per share. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on TSLA shares. Guggenheim decreased their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a report on Wednesday, March 12th. Robert W. Baird lowered their target price on Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada cut their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday. UBS Group cut their target price on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Finally, HSBC cut their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $283.24.

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.