Westwood Wealth Management Sells 2,340 Shares of Tesla, Inc. $TSLA

Westwood Wealth Management decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 15.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,220 shares of the electric vehicle producer’s stock after selling 2,340 shares during the period. Tesla comprises approximately 1.5% of Westwood Wealth Management’s portfolio, making the stock its 14th biggest holding. Westwood Wealth Management’s holdings in Tesla were worth $3,426,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC boosted its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the first quarter valued at $27,000. Finally, True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock valued at $213,126,501 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TSLA. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Wedbush reissued an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Monday, August 4th. Glj Research reissued a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. Finally, Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $303.31.

Tesla Price Performance

TSLA opened at $340.01 on Friday. The stock has a 50-day moving average price of $321.27 and a 200-day moving average price of $303.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.10 trillion, a PE ratio of 196.54, a P/E/G ratio of 11.13 and a beta of 2.33. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.