West Financial Advisors LLC Sells 153 Shares of Tesla, Inc. (NASDAQ:TSLA)

West Financial Advisors LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 40.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 225 shares of the electric vehicle producer’s stock after selling 153 shares during the period. West Financial Advisors LLC’s holdings in Tesla were worth $45,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Tesla by 5.0% in the fourth quarter. International Assets Investment Management LLC now owns 24,963 shares of the electric vehicle producer’s stock valued at $6,203,000 after purchasing an additional 1,189 shares in the last quarter. Cerity Partners LLC raised its stake in Tesla by 53.1% during the 4th quarter. Cerity Partners LLC now owns 234,739 shares of the electric vehicle producer’s stock worth $58,328,000 after buying an additional 81,418 shares during the period. Sapient Capital LLC bought a new position in Tesla during the fourth quarter worth about $2,906,000. Schmidt P J Investment Management Inc. grew its stake in Tesla by 15.8% in the fourth quarter. Schmidt P J Investment Management Inc. now owns 8,172 shares of the electric vehicle producer’s stock valued at $2,031,000 after acquiring an additional 1,118 shares during the period. Finally, Q3 Asset Management raised its position in shares of Tesla by 788.3% during the fourth quarter. Q3 Asset Management now owns 9,949 shares of the electric vehicle producer’s stock worth $2,472,000 after purchasing an additional 8,829 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TSLA shares. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Wednesday, April 24th. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research report on Friday, July 5th. TD Cowen increased their target price on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $204.21.

Tesla Price Performance

Shares of TSLA traded down $2.51 during trading hours on Monday, hitting $197.49. 63,825,434 shares of the company were exchanged, compared to its average volume of 99,786,875. The company has a market cap of $629.83 billion, a price-to-earnings ratio of 50.26, a P/E/G ratio of 5.18 and a beta of 2.31. The firm’s fifty day moving average is $212.04 and its 200 day moving average is $190.28. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Tesla Company 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.