Westwood Wealth Management Boosts Stock Position in Tesla, Inc. $TSLA

Westwood Wealth Management grew its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 78.4% during the third quarter, according to the company in its most recent disclosure 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 period. Tesla makes up approximately 2.4% of Westwood Wealth Management’s portfolio, making the stock its 11th biggest holding. Westwood Wealth Management’s holdings in Tesla were worth $6,539,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TSLA. Brighton Jones LLC grew its holdings in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 931 shares during the last quarter. Bison Wealth LLC increased its position in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in Tesla by 6.4% in the 2nd quarter. Salem Investment Counselors Inc. now owns 9,112 shares of the electric vehicle producer’s stock valued at $2,895,000 after purchasing an additional 545 shares during the last quarter. Finally, Gallacher Capital Management LLC purchased a new position in Tesla in the 2nd quarter valued at about $260,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Key Tesla News

Here are the key news stories impacting Tesla this week:

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. The Goldman Sachs Group raised their price objective on Tesla from $400.00 to $420.00 in a report on Friday, January 2nd. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a research note on Tuesday, January 6th. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a report on Monday, October 13th. Finally, Dbs Bank raised shares of Tesla to a “hold” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $408.54.

Read Our Latest Analysis on Tesla

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 56,820 shares of Tesla 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 sale, the director directly owned 1,391,615 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 577,031 shares in the company, valued at approximately $257,009,607.40. The trade was a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,457 shares of company stock valued at $53,501,145 in the last quarter. Company insiders own 19.90% of the company’s stock.

Tesla Stock Down 0.4%

Shares of NASDAQ TSLA opened at $447.20 on Wednesday. The stock has a fifty day moving average price of $443.95 and a 200 day moving average price of $397.34. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $498.83. The company has a market cap of $1.49 trillion, a P/E ratio of 298.13, a P/E/G ratio of 7.46 and a beta of 1.83.

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

Tesla 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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