West Family Investments Inc. Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

West Family Investments Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 20.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,026 shares of the electric vehicle producer’s stock after buying an additional 1,556 shares during the period. Tesla makes up 0.8% of West Family Investments Inc.’s portfolio, making the stock its 20th biggest position. West Family Investments Inc.’s holdings in Tesla were worth $2,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter worth about $29,000. Bank & Trust Co acquired a new position in Tesla during the 2nd quarter worth $25,000. Clean Yield Group raised its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter worth about $26,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 5.6 %

Shares of TSLA stock opened at $338.74 on Tuesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The company has a market cap of $1.09 trillion, a PE ratio of 92.81, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $254.75 and its two-hundred day moving average is $222.13.

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

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 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 directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,797 shares of company stock worth $57,616,781. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Bank of America lifted their price objective on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $400.00 target price on shares of Tesla in a research report on Monday. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Thursday, October 17th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $230.18.

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.