Tesla, Inc. $TSLA Shares Sold by Westmount Partners LLC

by · The Cerbat Gem

Westmount Partners LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 17.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,308 shares of the electric vehicle producer’s stock after selling 885 shares during the period. Westmount Partners LLC’s holdings in Tesla were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Brighton Jones LLC increased its holdings in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in Tesla in the fourth quarter valued at $346,000. Highview Capital Management LLC DE purchased a new position in Tesla in the fourth quarter valued at $2,367,000. Finally, Bison Wealth LLC increased its holdings in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA opened at $410.04 on Tuesday. The firm has a market capitalization of $1.32 trillion, a PE ratio of 237.02, a PEG ratio of 13.81 and a beta of 2.06. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The firm’s 50-day moving average price is $331.21 and its 200 day moving average price is $304.53. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. Royal Bank Of Canada reaffirmed an “overweight” rating on shares of Tesla in a report on Tuesday, July 29th. Argus reissued a “hold” rating on shares of Tesla in a research note on Monday, June 9th. UBS Group set a $290.00 target price on shares of Tesla in a research note on Monday, June 30th. Morgan Stanley reissued an “overweight” rating and set a $410.00 target price on shares of Tesla in a research note on Friday, September 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research note on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $303.00.

Check Out Our Latest Report on Tesla

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is owned by insiders.

Tesla Profile

(Free Report)

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.

See Also

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