Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Western Wealth Management LLC

Western Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,046 shares of the electric vehicle producer’s stock after purchasing an additional 1,088 shares during the quarter. Tesla makes up 0.8% of Western Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Western Wealth Management LLC’s holdings in Tesla were worth $11,690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Wyrmwood Management LLC purchased a new position in shares of Tesla in the 4th quarter valued at $25,000. Lam Group Inc. purchased a new position in shares of Tesla in the 4th quarter valued at $25,000. Alpha Paradigm Partners LLC purchased a new position in shares of Tesla in the 3rd quarter valued at $27,000. MayTech Global Investments LLC purchased a new position in shares of Tesla in the 4th quarter valued at $30,000. Finally, Perkins Coie Trust Co grew its position in shares of Tesla by 72.0% in the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 54 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla 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 completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Jefferies Financial Group lowered their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Piper Sandler lowered their price objective on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. UBS Group lowered their price objective on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Finally, Sanford C. Bernstein lowered their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $194.70.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $5.52 during midday trading on Thursday, hitting $149.93. The company had a trading volume of 95,522,509 shares, compared to its average volume of 101,837,430. 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 twelve month low of $148.70 and a twelve month high of $299.29. The business has a 50-day simple moving average of $180.24 and a two-hundred day simple moving average of $212.64. The firm has a market capitalization of $477.50 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 4.15 and a beta of 2.39.

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 business 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 business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 EPS. Equities research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current year.

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.