Westhampton Capital LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Westhampton Capital LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 930 shares of the electric vehicle producer’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Clean Yield Group boosted its position in shares of Tesla by 60.0% during 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. Finally, M&R Capital Management Inc. grew its stake in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TSLA shares. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Wolfe Research began coverage on Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $230.00 target price on shares of Tesla in a report on Friday, October 11th. Argus reissued a “buy” rating and issued a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $211.63.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last quarter. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

TSLA opened at $217.97 on Wednesday. The stock has a market cap of $695.15 billion, a PE ratio of 55.60, a P/E/G ratio of 6.31 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The stock’s 50 day simple moving average is $228.30 and its 200-day simple moving average is $206.36. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

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

Tesla Company 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.