Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,243 shares of the electric vehicle producer’s stock after selling 3,556 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Tesla were worth $2,423,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Integris Wealth Management LLC grew its stake in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the period. Echo Wealth Management LLC boosted its stake in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the last quarter. Bellevue Asset Management LLC boosted its stake in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the last quarter. Finally, Cypress Capital Group boosted its stake in Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on TSLA shares. TD Cowen lifted their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Monday, September 16th. Barclays lowered their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. HSBC lifted their target price on shares of Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Finally, Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $209.60.

Insider Activity at Tesla

In related 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 directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $238.25 on Monday. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company has a market cap of $759.83 billion, a PE ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The business has a 50-day simple moving average of $221.30 and a 200-day simple moving average of $196.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal 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.