WESPAC Advisors SoCal LLC Sells 4,200 Shares of Tesla, Inc. (NASDAQ:TSLA)

WESPAC Advisors SoCal LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 63.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,406 shares of the electric vehicle producer's stock after selling 4,200 shares during the period. WESPAC Advisors SoCal LLC's holdings in Tesla were worth $624,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its holdings in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the 1st quarter valued at $27,000. Finally, True Wealth Design LLC increased its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of Tesla stock traded up $10.76 during mid-day trading on Friday, hitting $316.06. 147,437,834 shares of the stock were exchanged, compared to its average volume of 90,285,424. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a 50-day simple moving average of $324.70 and a 200 day simple moving average of $314.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.04. The company has a market capitalization of $1.02 trillion, a P/E ratio of 182.69, a P/E/G ratio of 11.59 and a beta of 2.39.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. The Goldman Sachs Group decreased their price target on Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Royal Bank Of Canada decreased their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $302.75.

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.