Westmount Partners LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,122 shares of the electric vehicle producer’s stock after selling 466 shares during the period. Westmount Partners LLC’s holdings in Tesla were worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter valued at $29,000. Clean Yield Group boosted its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in Tesla in the third quarter worth $35,000. Finally, M&R Capital Management Inc. boosted its holdings in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on TSLA shares. Wells Fargo & Company lifted their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler upped their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Finally, UBS Group raised their price objective on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $296.60.
Insider Buying and Selling at Tesla
In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by company insiders.
Tesla Stock Up 0.1 %
Shares of Tesla stock traded up $0.47 during trading on Monday, hitting $395.21. 45,558,827 shares of the stock traded hands, compared to its average volume of 77,951,547. The company has a fifty day moving average price of $376.60 and a two-hundred day moving average price of $281.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $1.27 trillion, a P/E ratio of 108.28, a PEG ratio of 10.80 and a beta of 2.30.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.
Tesla 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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