Western Wealth Management LLC Has $8.58 Million Stock Position in Tesla, Inc. $TSLA

Western Wealth Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 26,994 shares of the electric vehicle producer’s stock after selling 1,213 shares during the period. Western Wealth Management LLC’s holdings in Tesla were worth $8,575,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in Tesla during the first quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after buying an additional 6,435,598 shares in the last quarter. Amundi raised its stake in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on TSLA shares. Evercore ISI upped their price target on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. TD Cowen boosted their price objective on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Piper Sandler lifted their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. New Street Research boosted their price objective on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Canaccord Genuity Group cut their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $393.61.

Tesla Stock Up 0.6%

Shares of NASDAQ:TSLA opened at $404.35 on Friday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The stock has a market capitalization of $1.34 trillion, a P/E ratio of 269.57, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The stock’s 50-day moving average price is $429.67 and its 200-day moving average price is $360.78. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. On average, equities 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.