Westwood Holdings Group Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 466.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,799 shares of the electric vehicle producer’s stock after purchasing an additional 13,012 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Tesla were worth $2,777,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla in the fourth quarter valued at $7,844,757,000. Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after purchasing an additional 458,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Tesla Stock Down 4.2 %
Shares of NASDAQ TSLA traded down $9.19 during mid-day trading on Friday, reaching $207.67. 82,880,120 shares of the company’s stock were exchanged, compared to its average volume of 126,158,848. The firm has a market capitalization of $663.43 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 5.60 and a beta of 2.31. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $210.01 and a 200 day simple moving average of $190.87. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $278.98.
Analyst Upgrades and Downgrades
TSLA has been the subject of a number of recent research reports. KGI Securities restated a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Mizuho upped their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Argus restated a “buy” rating and set a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Finally, Truist Financial increased their target price on Tesla from $162.00 to $215.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $204.30.
View Our Latest Stock Analysis on TSLA
Insider Buying and Selling
In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,719 shares of company stock worth $32,032,968. 25.10% of the stock is owned by corporate insiders.
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.
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