Westmount Partners LLC Trims Stock Position in Tesla, Inc. $TSLA

Key Points

• Westmount Partners LLC has reduced its stake in Tesla, Inc. by 17.0%, selling 885 shares, resulting in holdings worth approximately $1.37 million as of the latest SEC filing.
• Analyst ratings for Tesla show a broad range of sentiment, with one Strong Buy, seventeen Buy, and nine Sell ratings, leading to a consensus rating of "Hold" with a price target of $303.00.
• Insider sales were notable, with SVP Xiaotong Zhu selling 20,000 shares for over $7 million, and Director James R. Murdoch selling 120,000 shares valued at approximately $42 million.

Westmount Partners LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,308 shares of the electric vehicle producer's stock after selling 885 shares during the quarter. Westmount Partners LLC's holdings in Tesla were worth $1,368,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank increased its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. increased its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. Benchmark reissued a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Wedbush restated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a research note on Monday. Guggenheim restated a "sell" rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Robert W. Baird restated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company's stock. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $303.00.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,606 shares of company stock worth $51,999,662. Company insiders own 20.70% of the company's stock.

Tesla Trading Up 3.6%

NASDAQ:TSLA opened at $410.04 on Tuesday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a fifty day simple moving average of $331.21 and a 200-day simple moving average of $304.53. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.32 trillion, a P/E ratio of 237.02, a PEG ratio of 13.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company's quarterly revenue was down 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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.

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