Tesla, Inc. (NASDAQ:TSLA) Position Boosted by Western Wealth Management LLC

Western Wealth Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the 4th quarter, according to the company in 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 period. Tesla makes up 0.8% of Western Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. Western Wealth Management LLC’s holdings in Tesla were worth $11,690,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Axiom Financial Strategies LLC boosted its holdings in shares of Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after buying an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Tesla by 19.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after buying an additional 164,789 shares during the period. MAS Advisors LLC boosted its holdings in shares of Tesla by 25.7% in the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after buying an additional 81 shares during the period. Ergoteles LLC boosted its holdings in shares of Tesla by 33.4% in the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after buying an additional 893 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after buying an additional 4,593 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $2,631,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction 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 sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla 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 owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $5.52 during trading on Thursday, reaching $149.93. The stock had a trading volume of 95,522,509 shares, compared to its average volume of 101,837,430. Tesla, Inc. has a 52 week low of $148.70 and a 52 week high of $299.29. The firm has a market capitalization of $477.50 billion, a price-to-earnings ratio of 35.25, a P/E/G ratio of 4.15 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $180.24 and a two-hundred day simple moving average of $212.64.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the prior year, the business earned $1.07 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. KGI Securities reiterated a “neutral” rating and issued a $213.00 target price (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Jefferies Financial Group decreased their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Sanford C. Bernstein decreased their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Finally, Piper Sandler decreased their price target on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $194.70.

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.