Tesla, Inc. (NASDAQ:TSLA) Stake Lifted by Westwood Wealth Management

Westwood Wealth Management increased its position in Tesla, Inc. (NASDAQ:TSLA) by 1,334.1% in the fourth quarter, HoldingsChannel reports. The firm owned 15,560 shares of the electric vehicle producer’s stock after purchasing an additional 14,475 shares during the quarter. Tesla accounts for approximately 2.3% of Westwood Wealth Management’s holdings, making the stock its 9th biggest holding. Westwood Wealth Management’s holdings in Tesla were worth $6,284,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. United Bank purchased a new stake in Tesla in the third quarter worth about $287,000. Weiss Asset Management LP bought a new position in shares of Tesla during the third quarter valued at approximately $5,246,000. EP Wealth Advisors LLC lifted its holdings in shares of Tesla by 5.1% during the third quarter. EP Wealth Advisors LLC now owns 66,870 shares of the electric vehicle producer’s stock valued at $17,495,000 after purchasing an additional 3,222 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its stake in shares of Tesla by 27.4% in the 3rd quarter. iA Global Asset Management Inc. now owns 267,049 shares of the electric vehicle producer’s stock worth $69,868,000 after buying an additional 57,420 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 10.4 %

Shares of NASDAQ:TSLA opened at $239.43 on Friday. The firm has a market capitalization of $770.13 billion, a PE ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The business has a 50 day simple moving average of $305.98 and a two-hundred day simple moving average of $323.56. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TSLA shares. Benchmark assumed coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. HSBC cut their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Wedbush reaffirmed an “outperform” rating and issued a $550.00 target price on shares of Tesla in a report on Thursday, March 27th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Finally, Robert W. Baird decreased their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $312.65.

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.