Westwood Holdings Group Inc. Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Westwood Holdings Group Inc. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,048 shares of the electric vehicle producer's stock after selling 1,074 shares during the period. Westwood Holdings Group Inc.'s holdings in Tesla were worth $1,567,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in Tesla during the fourth quarter worth $56,600,000. Means Investment CO. Inc. raised 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 acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. boosted its position in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after purchasing an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. acquired a new stake in Tesla during the fourth quarter worth about $8,158,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. China Renaissance reiterated a "hold" rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Cantor Fitzgerald decreased their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. Benchmark restated a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Mizuho decreased their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Trading Up 0.7%

TSLA opened at $322.27 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $192.04 and a 52 week high of $488.54. The business's 50 day moving average is $319.07 and its two-hundred day moving average is $308.84. The firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 186.28, a price-to-earnings-growth ratio of 11.24 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during 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 was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the business's 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 disclosure for this sale can be found here. Insiders sold a total of 602,724 shares of company stock valued at $214,176,831 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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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