Western Wealth Management LLC Sells 32,213 Shares of Tesla, Inc. (NASDAQ:TSLA)

Western Wealth Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,498 shares of the electric vehicle producer's stock after selling 32,213 shares during the period. Tesla accounts for 1.2% of Western Wealth Management LLC's holdings, making the stock its 12th largest position. Western Wealth Management LLC's holdings in Tesla were worth $3,835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. True Wealth Design LLC lifted 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 buying an additional 31 shares during the period. Horrell Capital Management Inc. grew its position in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. grew its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC bought a new position in shares of Tesla during the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the 4th quarter valued at approximately $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the transaction, the chief financial officer now owns 23,084 shares in the company, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,623 shares of company stock valued at $116,650,831. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Tesla stock opened at $341.04 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $1.10 trillion, a P/E ratio of 167.18, a P/E/G ratio of 5.86 and a beta of 2.43. The business's fifty day moving average is $275.05 and its two-hundred day moving average is $332.09. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the company posted $0.45 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Royal Bank of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird cut their price target on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen lowered shares of Tesla from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Finally, Mizuho lifted their price target on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $289.43.

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.

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