Watts Gwilliam & Co. LLC Has $2.37 Million Holdings in Tesla, Inc. $TSLA

Watts Gwilliam & Co. LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 65.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,446 shares of the electric vehicle producer’s stock after selling 14,352 shares during the quarter. Watts Gwilliam & Co. LLC’s holdings in Tesla were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TSLA. Vanguard Group Inc. increased its holdings in Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after purchasing an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tesla by 2.0% during the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after purchasing an additional 1,269,304 shares during the last quarter. Norges Bank bought a new stake in shares of Tesla during the second quarter worth $11,839,824,000. Legal & General Group Plc increased its stake in shares of Tesla by 5.9% in the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after buying an additional 1,134,678 shares in the last quarter. Finally, Amundi raised its holdings in shares of Tesla by 20.4% in the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after buying an additional 3,422,270 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TSLA shares. China Renaissance increased their price objective on shares of Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a report on Friday, October 24th. Benchmark reissued a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Melius began coverage on shares of Tesla in a research report on Monday, October 13th. They issued a “buy” rating and a $520.00 price objective for the company. Finally, Mizuho set a $475.00 price objective on Tesla and gave the company an “outperform” rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $399.33.

Tesla Stock Performance

TSLA stock opened at $475.31 on Tuesday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.58 trillion, a P/E ratio of 316.87, a price-to-earnings-growth ratio of 15.50 and a beta of 1.87. The business’s fifty day moving average is $435.96 and its 200-day moving average is $377.25.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.