Ironwood Wealth Management LLC. Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ironwood Wealth Management LLC. boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 992 shares of the electric vehicle producer’s stock after purchasing an additional 211 shares during the quarter. Ironwood Wealth Management LLC.’s holdings in Tesla were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Wealth Group Ltd. bought a new position in Tesla during the fourth quarter valued at $275,000. Comprehensive Financial Planning Inc. PA bought a new position in Tesla during the fourth quarter valued at $1,361,000. Tallon Kerry Patrick bought a new position in Tesla during the fourth quarter valued at $374,000. Eagle Capital Management LLC bought a new position in Tesla during the fourth quarter valued at $331,000. Finally, Brighton Jones LLC increased its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Joseph Gebbia acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the transaction, the director now owns 4,111 shares in the company, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now owns 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 818,509 shares of company stock valued at $273,791,775. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Truist Financial set a $280.00 price target on shares of Tesla in a report on Tuesday, April 22nd. Wedbush set a $500.00 price target on shares of Tesla in a report on Thursday, June 5th. Bank of America cut their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Tesla in a report on Tuesday. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Stock Performance

TSLA opened at $326.09 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.85, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The firm’s fifty day simple moving average is $293.86 and its two-hundred day simple moving average is $333.15.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the business posted $0.45 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Company 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.