Westfield Capital Management Co. LP Has $51.17 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Westfield Capital Management Co. LP trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 14.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 291,060 shares of the electric vehicle producer’s stock after selling 50,386 shares during the period. Westfield Capital Management Co. LP’s holdings in Tesla were worth $51,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its stake in Tesla by 229.8% in the first quarter. Intech Investment Management LLC now owns 793,274 shares of the electric vehicle producer’s stock valued at $139,450,000 after acquiring an additional 552,749 shares during the period. Cooper Haims Advisors LLC lifted its holdings in shares of Tesla by 24.4% in the first quarter. Cooper Haims Advisors LLC now owns 1,896 shares of the electric vehicle producer’s stock valued at $333,000 after purchasing an additional 372 shares in the last quarter. Pinkerton Retirement Specialists LLC lifted its holdings in shares of Tesla by 14.5% in the first quarter. Pinkerton Retirement Specialists LLC now owns 2,357 shares of the electric vehicle producer’s stock valued at $414,000 after purchasing an additional 298 shares in the last quarter. M&G Plc bought a new stake in shares of Tesla in the first quarter valued at about $2,509,000. Finally, Banco Santander S.A. lifted its holdings in shares of Tesla by 37.1% in the first quarter. Banco Santander S.A. now owns 284,496 shares of the electric vehicle producer’s stock valued at $50,012,000 after purchasing an additional 77,027 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $10.03 during trading on Friday, reaching $239.20. 87,403,903 shares of the company traded hands, compared to its average volume of 121,911,872. The company’s 50 day moving average is $200.12 and its two-hundred day moving average is $191.17. The firm has a market capitalization of $762.86 billion, a PE ratio of 61.02, a PEG ratio of 5.97 and a beta of 2.31. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $280.93.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, sell-side analysts predict that Tesla, Inc. will post 1.85 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and issued a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Royal Bank of Canada reduced their price target on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday. Finally, Guggenheim boosted their price target on Tesla from $126.00 to $134.00 and gave the stock a “sell” rating in a research report on Wednesday, July 3rd. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $203.03.

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.