Westside Investment Management Inc. Has $679,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

Westside Investment Management Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,607 shares of the electric vehicle producer’s stock after selling 705 shares during the period. Westside Investment Management Inc.’s holdings in Tesla were worth $679,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at $29,000. Clean Yield Group lifted its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter worth approximately $26,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter worth approximately $35,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 522,886 shares of company stock worth $171,393,831. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $424.77 on Thursday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $424.88. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.36 trillion, a P/E ratio of 116.38, a P/E/G ratio of 12.64 and a beta of 2.36. The company has a 50 day moving average of $290.95 and a 200 day moving average of $242.24.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TSLA shares. Barclays upped their price target on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Truist Financial increased their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Robert W. Baird restated an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Jefferies Financial Group increased their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, William Blair assumed coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $257.36.

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.