Westwood Wealth Management Boosts Stake in Tesla, Inc. $TSLA

Westwood Wealth Management increased its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 78.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,703 shares of the electric vehicle producer’s stock after purchasing an additional 6,460 shares during the quarter. Tesla accounts for about 2.4% of Westwood Wealth Management’s holdings, making the stock its 11th largest holding. Westwood Wealth Management’s holdings in Tesla were worth $6,539,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after purchasing an additional 4,502,976 shares during the period. Geode Capital Management LLC boosted its holdings in Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after buying an additional 1,269,304 shares during the last quarter. Norges Bank purchased a new stake in Tesla during the 2nd quarter worth approximately $11,839,824,000. Legal & General Group Plc raised its holdings in shares of Tesla by 5.9% during the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after acquiring an additional 1,134,678 shares during the last quarter. Finally, Amundi lifted its position in shares of Tesla by 20.4% in the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after acquiring an additional 3,422,270 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 0.4%

Tesla stock opened at $447.20 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a 50 day moving average price of $443.95 and a 200 day moving average price of $397.34. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $498.83. The company has a market capitalization of $1.49 trillion, a PE ratio of 298.13, a price-to-earnings-growth ratio of 7.46 and a beta of 1.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Melius Research set a $520.00 price objective on Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Wells Fargo & Company restated an “underweight” rating and set a $130.00 target price (up from $120.00) on shares of Tesla in a report on Monday. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $408.54.

Read Our Latest Stock Report on Tesla

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. The trade was a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the transaction, the director owned 577,031 shares of the company’s stock, valued at $257,009,607.40. The trade was a 9.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 119,457 shares of company stock worth $53,501,145 in the last ninety days. 19.90% of the stock is owned by corporate insiders.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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