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

West Wealth Group LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,984 shares of the electric vehicle producer’s stock after selling 209 shares during the period. Tesla comprises approximately 0.7% of West Wealth Group LLC’s holdings, 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 quarter.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Contravisory Investment Management Inc. purchased a new stake in Tesla in the 3rd quarter worth $25,000. Wyrmwood Management LLC purchased a new position in shares of Tesla in the fourth quarter worth $25,000. Halpern Financial Inc. raised its holdings in shares of Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Alpha Paradigm Partners LLC acquired a new stake in Tesla during the third quarter valued at $27,000. Finally, MayTech Global Investments LLC acquired a new position in Tesla during the fourth quarter worth about $30,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 198,598 shares of company stock worth $36,952,434 over the last 90 days. Insiders own 20.90% of the company’s stock.

Tesla Stock Down 1.6 %

Shares of NASDAQ:TSLA 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’s 50 day moving average price is $188.49 and its 200-day moving average price is $222.36. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The stock has a market capitalization of $563.45 billion, a P/E ratio of 41.72, a PEG ratio of 4.01 and a beta of 2.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Jefferies Financial Group dropped their price objective on shares of Tesla from $225.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, January 29th. Redburn Atlantic started coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price for the company. KGI Securities reissued a “neutral” rating and issued a $213.00 price objective (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Wells Fargo & Company lowered Tesla from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $200.00 to $125.00 in a research note on Wednesday, March 13th. Finally, UBS Group cut their price objective on Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $204.63.

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.