Westfield Capital Management Co. LP Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Westfield Capital Management Co. LP lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 521,524 shares of the electric vehicle producer’s stock after purchasing an additional 83,527 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Tesla were worth $136,446,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Centaurus Financial Inc. raised its holdings in shares of Tesla by 13.5% during the 3rd quarter. Centaurus Financial Inc. now owns 26,650 shares of the electric vehicle producer’s stock valued at $6,973,000 after buying an additional 3,180 shares in the last quarter. Wealth Dimensions Group Ltd. raised its holdings in shares of Tesla by 10.1% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 4,292 shares of the electric vehicle producer’s stock valued at $1,123,000 after buying an additional 395 shares in the last quarter. Wescott Financial Advisory Group LLC raised its holdings in shares of Tesla by 3.2% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,067 shares of the electric vehicle producer’s stock valued at $541,000 after buying an additional 65 shares in the last quarter. Penserra Capital Management LLC increased its stake in Tesla by 4.0% in the 3rd quarter. Penserra Capital Management LLC now owns 19,814 shares of the electric vehicle producer’s stock worth $5,182,000 after purchasing an additional 762 shares during the period. Finally, StoneX Group Inc. increased its stake in Tesla by 2.8% in the 3rd quarter. StoneX Group Inc. now owns 18,918 shares of the electric vehicle producer’s stock worth $4,950,000 after purchasing an additional 523 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TSLA. William Blair began coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Canaccord Genuity Group lifted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Guggenheim lifted their price target on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus lifted their price target on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $230.18.

Tesla Trading Up 3.8 %

Tesla stock opened at $352.56 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $264.07 and its two-hundred day simple moving average is $226.43. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.53. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.59, a price-to-earnings-growth ratio of 11.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s 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 transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock worth $92,956,692 over the last quarter. 20.70% of the stock is currently owned by 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.