Westwood Holdings Group Inc. Decreases Position in Tesla, Inc. $TSLA

Westwood Holdings Group Inc. lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 24.1% during the second quarter, HoldingsChannel reports. The firm owned 4,588 shares of the electric vehicle producer’s stock after selling 1,460 shares during the period. Westwood Holdings Group Inc.’s holdings in Tesla were worth $1,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Tesla in the second quarter valued at $11,839,824,000. Kingstone Capital Partners Texas LLC grew its stake in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares during the period. Vanguard Group Inc. increased its holdings in Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares during the last quarter. Amundi raised its stake in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Caxton Associates LLP purchased a new stake in Tesla during the first quarter valued at about $469,339,000. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $475.31 on Tuesday. The firm has a market capitalization of $1.58 trillion, a P/E ratio of 316.87, a P/E/G ratio of 15.50 and a beta of 1.87. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock’s 50-day simple moving average is $435.96 and its two-hundred day simple moving average is $377.25. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period last year, the firm posted $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Canaccord Genuity Group cut their price objective on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $500.00 price target on shares of Tesla in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $399.33.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 19.90% 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.