Integrated Wealth Concepts LLC Has $23.63 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Integrated Wealth Concepts LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,300 shares of the electric vehicle producer’s stock after buying an additional 7,791 shares during the period. Integrated Wealth Concepts LLC’s holdings in Tesla were worth $23,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of TSLA. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter worth approximately $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla during the third quarter valued at approximately $35,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,187 shares of company stock valued at $92,956,692. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TSLA. Stifel Nicolaus upped their price target on Tesla from $287.00 to $411.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. increased their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. HSBC reiterated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Piper Sandler lifted their target price on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $243.75.

Tesla Price Performance

TSLA stock opened at $350.77 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 97.83, a price-to-earnings-growth ratio of 11.21 and a beta of 2.36. The stock’s fifty day simple moving average is $274.55 and its 200-day simple moving average is $232.59. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.93.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Equities research analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

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.