Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 31.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,122 shares of the electric vehicle producer’s stock after selling 3,266 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Tesla were worth $2,876,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Hengehold Capital Management LLC increased its position in Tesla by 1.8% in the 4th 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 position in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares during the period. Vista Finance LLC increased its position in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the period. Prospect Financial Services LLC increased its position in shares of Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after purchasing an additional 26 shares during the period. Finally, Jmac Enterprises LLC increased its position in shares of Tesla by 0.7% during the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after purchasing an additional 26 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $350.11, for a total value of $1,050,330.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $9,435,464.50. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,623 shares of company stock valued at $116,650,831. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Royal Bank of Canada lowered their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird lowered their price target on Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. UBS Group lowered their price target on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Finally, Roth Mkm lowered their price target on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $289.43.

Tesla Price Performance

TSLA opened at $343.82 on Wednesday. The stock has a market cap of $1.11 trillion, a price-to-earnings ratio of 168.54, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. 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 stock has a fifty day moving average price of $271.29 and a 200 day moving average price of $331.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for 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 period in the previous year, the business posted $0.45 EPS. Analysts forecast 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.