Westhampton Capital LLC Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Westhampton Capital LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 930 shares of the electric vehicle producer’s stock, valued at approximately $243,000.

Other large investors have also modified their holdings of the company. Clean Energy Transition LLP lifted its holdings in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. Vanguard Group Inc. boosted its position in 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 acquiring an additional 3,795,748 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after acquiring an additional 1,479,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 12.9% in the 1st 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 acquiring an additional 1,125,329 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday. Citigroup lowered their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. Stifel Nicolaus started coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price for the company. Finally, William Blair started coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $211.63.

Tesla Trading Down 0.4 %

Shares of NASDAQ TSLA opened at $217.97 on Wednesday. The stock has a market capitalization of $695.15 billion, a P/E ratio of 55.60, a PEG ratio of 6.31 and a beta of 2.29. The stock’s 50 day moving average price is $228.30 and its two-hundred day moving average price is $206.36. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is currently owned by insiders.

Tesla Company 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.