Western Financial Corp CA Has $1.90 Million Stake in Tesla, Inc. $TSLA

Key Points

• Western Financial Corp CA reduced its stake in Tesla by 9.4% in the second quarter, now holding approximately $1.90 million worth of shares, which constitutes 1.0% of its portfolio.
• Goldman Sachs significantly increased its position in Tesla by 322.1% in the first quarter, bringing its total shares to over 26.5 million, valued at around $6.89 billion.
• Tesla reported a $0.40 EPS for the last quarter, missing estimates, with revenue of $22.50 billion, down 11.8% year-over-year.

Western Financial Corp CA lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,973 shares of the electric vehicle producer's stock after selling 618 shares during the period. Tesla accounts for 1.0% of Western Financial Corp CA's portfolio, making the stock its 27th largest position. Western Financial Corp CA's holdings in Tesla were worth $1,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC bought a new stake in shares of Tesla during the 1st quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its stake in shares of Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi boosted its position in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $440.40 on Monday. 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 business has a 50-day moving average of $352.05 and a 200-day moving average of $315.40. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 254.57, a PEG ratio of 15.36 and a beta of 2.06. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly 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). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Benchmark reissued a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Canaccord Genuity Group increased their price target on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Wedbush boosted their price target on Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $332.33.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.