Westside Investment Management Inc. Buys 501 Shares of Tesla, Inc. (NASDAQ:TSLA)

Westside Investment Management Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,053 shares of the electric vehicle producer’s stock after purchasing an additional 501 shares during the quarter. Westside Investment Management Inc.’s holdings in Tesla were worth $794,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TSLA. Tradewinds Capital Management LLC raised its position in shares of Tesla by 31.3% during the first quarter. Tradewinds Capital Management LLC now owns 734 shares of the electric vehicle producer’s stock worth $190,000 after acquiring an additional 175 shares during the last quarter. Argent Advisors Inc. acquired a new stake in Tesla in the first quarter worth about $323,000. Valley National Advisers Inc. raised its holdings in Tesla by 4.0% during the 1st quarter. Valley National Advisers Inc. now owns 4,021 shares of the electric vehicle producer’s stock worth $1,042,000 after purchasing an additional 155 shares during the last quarter. Northwest Wealth Management LLC raised its holdings in Tesla by 5.1% during the 1st quarter. Northwest Wealth Management LLC now owns 10,417 shares of the electric vehicle producer’s stock worth $2,700,000 after purchasing an additional 510 shares during the last quarter. Finally, IRON Financial LLC lifted its position in Tesla by 20.6% during the 1st quarter. IRON Financial LLC now owns 1,170 shares of the electric vehicle producer’s stock valued at $303,000 after purchasing an additional 200 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Wedbush reiterated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research report on Friday, June 20th. Canaccord Genuity Group restated a “buy” rating and issued a $303.00 price target on shares of Tesla in a research report on Monday. Finally, Wells Fargo & Company decreased their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $298.37.

Tesla Price Performance

Shares of TSLA opened at $317.66 on Tuesday. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 174.54, a PEG ratio of 12.20 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $316.73 and its 200 day simple moving average is $328.38. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the company posted $0.45 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company’s stock.

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.