Westpac Banking Corp grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,388 shares of the electric vehicle producer's stock after buying an additional 3,539 shares during the quarter. Tesla makes up 1.2% of Westpac Banking Corp's portfolio, making the stock its 9th largest position. Westpac Banking Corp's holdings in Tesla were worth $18,733,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Hengehold Capital Management LLC raised its position in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock valued at $544,000 after buying an additional 24 shares during the last quarter. Strategic Investment Advisors MI grew its stake in shares of Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after acquiring an additional 24 shares in the last quarter. Acropolis Investment Management LLC raised its holdings in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock valued at $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD lifted its position in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after purchasing an additional 25 shares in the last quarter. Finally, Vista Finance LLC boosted its holdings in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after purchasing an additional 25 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on TSLA. Truist Financial reduced their target price on Tesla from $373.00 to $280.00 and set a "hold" rating for the company in a report on Thursday. Mizuho lowered their target price on Tesla from $515.00 to $430.00 and set an "outperform" rating on the stock in a research note on Monday, March 17th. Oppenheimer restated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Benchmark began coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a "buy" rating and a $475.00 target price on the stock. Finally, New Street Research raised shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $312.65.
Read Our Latest Analysis on TSLA
Tesla Price Performance
Shares of TSLA traded down $27.85 during trading hours on Friday, reaching $239.43. 180,231,397 shares of the company's stock traded hands, compared to its average volume of 94,269,783. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm's 50 day simple moving average is $305.98 and its 200-day simple moving average is $323.56. The stock has a market cap 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. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.
Insider Activity at Tesla
In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company's stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 over the last 90 days. 20.70% of the stock is owned by insiders.
About Tesla
(
Free Report)
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.
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