IHT Wealth Management LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

IHT Wealth Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,482 shares of the electric vehicle producer's stock after selling 12,158 shares during the period. IHT Wealth Management LLC's holdings in Tesla were worth $12,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after buying an additional 194,796 shares during the period. McIlrath & Eck LLC increased its stake in Tesla by 6.0% in the third quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer's stock worth $890,000 after purchasing an additional 192 shares during the period. Advisory Resource Group lifted its position in shares of Tesla by 1.2% during the third quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer's stock worth $1,115,000 after purchasing an additional 50 shares during the last quarter. Morse Asset Management Inc boosted its stake in shares of Tesla by 46.0% during the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer's stock valued at $2,279,000 after purchasing an additional 2,743 shares during the period. Finally, SkyView Investment Advisors LLC grew its holdings in shares of Tesla by 31.4% in the third quarter. SkyView Investment Advisors LLC now owns 5,579 shares of the electric vehicle producer's stock worth $1,460,000 after purchasing an additional 1,334 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Tesla stock traded up $13.10 during trading on Wednesday, reaching $251.07. The company had a trading volume of 149,563,812 shares, compared to its average volume of 96,201,924. The firm has a market capitalization of $807.56 billion, a PE ratio of 123.07, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The firm's 50-day simple moving average is $267.29 and its 200 day simple moving average is $322.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1-year low of $157.51 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the business earned $0.45 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 374,228 shares of company stock worth $123,791,123. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TSLA shares. UBS Group lowered their price objective on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Wednesday. Barclays lowered their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday. Morgan Stanley reissued a "buy" rating on shares of Tesla in a report on Tuesday. Finally, Wells Fargo & Company lowered their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Ten equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.