West Wealth Group LLC Sells 209 Shares of Tesla, Inc. (NASDAQ:TSLA)

West Wealth Group LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,984 shares of the electric vehicle producer’s stock after selling 209 shares during the quarter. Tesla comprises about 0.7% of West Wealth Group LLC’s portfolio, making the stock its 24th largest position. West Wealth Group LLC’s holdings in Tesla were worth $1,735,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Synergy Financial Group LTD increased its stake in Tesla by 7.3% during the second quarter. Synergy Financial Group LTD now owns 6,432 shares of the electric vehicle producer’s stock worth $1,684,000 after purchasing an additional 438 shares during the period. New Republic Capital LLC purchased a new position in Tesla in the second quarter valued at approximately $429,000. Oak Ridge Investments LLC raised its holdings in Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after buying an additional 1,405 shares during the period. Charter Oak Capital Management LLC raised its stake in shares of Tesla by 8.9% during the third quarter. Charter Oak Capital Management LLC now owns 1,271 shares of the electric vehicle producer’s stock valued at $318,000 after purchasing an additional 104 shares during the period. Finally, CWM LLC boosted its holdings in Tesla by 14.4% in the third quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer’s stock worth $36,717,000 after purchasing an additional 18,462 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TSLA shares. Canaccord Genuity Group cut their price objective on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. KGI Securities reiterated a “neutral” rating and set a $213.00 target price (down from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Piper Sandler lowered their price target on Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 5th. Redburn Atlantic assumed coverage on Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target on the stock. Finally, Guggenheim raised their target price on Tesla from $125.00 to $132.00 and gave the stock a “sell” rating in a research report on Friday, December 15th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $204.63.

Tesla Price Performance

Shares of Tesla stock traded down $2.91 during trading on Thursday, hitting $176.92. 25,253,559 shares of the company were exchanged, compared to its average volume of 101,722,414. The firm has a 50 day moving average price of $188.49 and a 200 day moving average price of $222.36. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The stock has a market capitalization of $563.45 billion, a price-to-earnings ratio of 41.72, a P/E/G ratio of 4.01 and a beta of 2.41.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock worth $36,952,434 in the last three months. Insiders own 20.90% of the company’s stock.

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.