Tesla, Inc. (NASDAQ:TSLA) Holdings Lifted by Westpac Banking Corp

Westpac Banking Corp increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,388 shares of the electric vehicle producer’s stock after acquiring an additional 3,539 shares during the period. Tesla comprises about 1.2% of Westpac Banking Corp’s holdings, making the stock its 9th largest holding. Westpac Banking Corp’s holdings in Tesla were worth $18,733,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. grew its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC raised its holdings in shares of Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after acquiring an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new stake in Tesla during the fourth quarter valued at $44,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $282.76 on Thursday. The business has a 50 day simple moving average of $312.22 and a 200 day simple moving average of $323.20. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $909.50 billion, a PE ratio of 138.61, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Wells Fargo & Company reduced their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 12th. Finally, UBS Group reduced their price target on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research report on Monday, March 10th. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $317.75.

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.