Westside Investment Management Inc. Has $995,000 Position in Tesla, Inc. $TSLA

Westside Investment Management Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 4.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,184 shares of the electric vehicle producer’s stock after purchasing an additional 131 shares during the quarter. Westside Investment Management Inc.’s holdings in Tesla were worth $995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new position in Tesla during the 1st quarter worth approximately $3,247,619,000. Kingstone Capital Partners Texas LLC increased its position in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares in the last quarter. Amundi increased its position in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TSLA shares. UBS Group set a $247.00 price objective on shares of Tesla in a research report on Monday, October 6th. Bank of America upped their price objective on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group lowered their price objective on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Evercore ISI upped their price objective on shares of Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Glj Research reiterated a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $390.27.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Trading Up 3.7%

NASDAQ:TSLA opened at $456.56 on Monday. The firm’s fifty day moving average is $410.52 and its 200-day moving average is $348.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The firm has a market cap of $1.52 trillion, a P/E ratio of 304.37, a P/E/G ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

About Tesla

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.