Western Financial Corp CA Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Western Financial Corp CA acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, Holdings Channel reports. The firm acquired 8,673 shares of the electric vehicle producer’s stock, valued at approximately $2,269,000. Tesla makes up 1.3% of Western Financial Corp CA’s holdings, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Tesla by 1.7% during the 1st 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Tesla by 21,816.0% in the 2nd 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 in the last quarter. ARK Investment Management LLC raised its stake in Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Tesla by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after acquiring an additional 412,872 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

TSLA stock traded down $3.07 on Monday, reaching $217.63. The company had a trading volume of 40,215,930 shares, compared to its average volume of 94,099,898. The company’s fifty day moving average is $227.67 and its 200 day moving average is $205.65. The company has a market cap of $695.25 billion, a P/E ratio of 61.05, a PEG ratio of 6.31 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00.

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

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. Stifel Nicolaus began coverage on shares of Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price on the stock. Mizuho upped their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $210.72.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade 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. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock valued at $16,663,291 in the last ninety days. Insiders own 20.70% of the company’s stock.

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.