Western Wealth Management LLC Sells 3,963 Shares of Tesla, Inc. (NASDAQ:TSLA)

Western Wealth Management LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,207 shares of the electric vehicle producer's stock after selling 3,963 shares during the quarter. Western Wealth Management LLC's holdings in Tesla were worth $7,310,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla in the fourth quarter valued at $56,600,000. Means Investment CO. Inc. boosted its holdings in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. grew its position in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. grew its holdings in Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after buying an additional 1,629 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in shares of Tesla in the fourth quarter valued at about $8,158,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. Wedbush reissued an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Friday, June 20th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price target on shares of Tesla in a report on Monday. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and upped their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. HSBC decreased their price target on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Finally, Wells Fargo & Company lowered their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $298.37.

Tesla Stock Performance

Shares of TSLA opened at $325.78 on Friday. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a 50 day moving average price of $313.28 and a two-hundred day moving average price of $331.01. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 179.00, a P/E/G ratio of 12.25 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the business earned $0.45 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.

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