Watts Gwilliam & Co. LLC Has $2.37 Million Position in Tesla, Inc. $TSLA

Watts Gwilliam & Co. LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 65.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,446 shares of the electric vehicle producer’s stock after selling 14,352 shares during the quarter. Watts Gwilliam & Co. LLC’s holdings in Tesla were worth $2,365,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC lifted its position in Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after acquiring an additional 1,269,304 shares in the last quarter. Norges Bank acquired a new position in Tesla in the 2nd quarter worth $11,839,824,000. Legal & General Group Plc increased its holdings in Tesla by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares in the last quarter. Finally, Amundi raised its stake in shares of Tesla by 20.4% in the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after purchasing an additional 3,422,270 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares in the company, valued at $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TSLA. HSBC reaffirmed a “reduce” rating on shares of Tesla in a research report on Monday, November 17th. Melius Research set a $520.00 target price on Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. Roth Capital set a $505.00 price target on Tesla and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, The Goldman Sachs Group cut their price objective on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $399.33.

Tesla Stock Performance

NASDAQ TSLA opened at $475.31 on Tuesday. The firm has a market capitalization of $1.58 trillion, a P/E ratio of 316.87, a price-to-earnings-growth ratio of 15.50 and a beta of 1.87. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average price is $435.96 and its two-hundred day moving average price is $377.25. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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.