Westpac Banking Corp Acquires New Shares in Tesla, Inc. $TSLA

Westpac Banking Corp bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 53,667 shares of the electric vehicle producer's stock, valued at approximately $22,572,000. Tesla makes up approximately 1.4% of Westpac Banking Corp's investment portfolio, making the stock its 11th largest holding.

Several other hedge funds have also recently modified their holdings of the business. State Street Corp lifted its stake in Tesla by 0.9% during the 4th quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer's stock valued at $51,647,164,000 after acquiring an additional 1,080,085 shares during the period. Geode Capital Management LLC grew its stake in shares of Tesla by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer's stock worth $29,426,070,000 after acquiring an additional 375,946 shares during the period. Norges Bank bought a new stake in shares of Tesla in the fourth quarter worth approximately $17,128,100,000. Amundi raised its holdings in shares of Tesla by 14.0% during the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer's stock valued at $8,243,513,000 after purchasing an additional 2,727,141 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer's stock valued at $9,650,811,000 after buying an additional 20,810,386 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla began offering limited Cybercab rides in Austin, marking tangible progress toward its long-promised autonomous-vehicle strategy. The company is also soliciting interest from businesses that may purchase Cybercab fleets or provide supporting infrastructure, potentially expanding the model beyond Tesla-operated vehicles. Tesla Cybercab Hits Austin Streets
• Positive Sentiment: Tesla said the Cybercab motor uses no rare-earth metals, which could reduce supply-chain exposure. Separately, French authorities began testing Tesla’s Full Self-Driving technology, a possible step toward European regulatory progress. Cybercab Rare-Earth-Free Motor
• Neutral Sentiment: Technical analysts identified potential support around $330–$331 after the stock failed to hold resistance near $380. A successful rebound could restore momentum, but a break below roughly $347 could increase downside pressure. Tesla Forecast and Technical Levels
• Negative Sentiment: The National Highway Traffic Safety Administration opened an audit involving approximately 1,000 Cybercabs. Regulators are reviewing Tesla’s self-certification and whether a vehicle without a steering wheel, pedals or conventional mirrors complies with federal safety standards, creating potential approval and rollout delays. NHTSA Cybercab Probe
• Negative Sentiment: Analysts and financial media characterized the event as underwhelming, citing limited updates and unanswered questions about manufacturing scale, commercialization and economics. Bearish commentary—including a reiterated sell rating and an extreme downside forecast—added to the pressure, especially given Tesla’s very high earnings multiple and recent EPS miss. Tesla Stock Drops After Cybercab Update

Tesla Stock Performance

NASDAQ:TSLA opened at $354.08 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94. The stock has a 50-day simple moving average of $358.22 and a two-hundred day simple moving average of $383.10. The firm has a market capitalization of $1.40 trillion, a PE ratio of 327.85, a P/E/G ratio of 19.00 and a beta of 1.84. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company had revenue of $28.24 billion for the quarter, compared to analysts' expectations of $26.42 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The firm's quarterly revenue was up 25.5% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 0.88 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the transaction, the chief financial officer owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TSLA. Morgan Stanley restated a "mixed" rating on shares of Tesla in a research note on Wednesday. Erste Group Bank upgraded Tesla from a "sell" rating to a "hold" rating in a research report on Friday, June 5th. Stifel Nicolaus set a $491.00 target price on Tesla and gave the stock a "buy" rating in a research report on Monday, August 3rd. DZ Bank upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Finally, Mizuho set a $450.00 price target on shares of Tesla and gave the company an "outperform" rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $401.74.

Tesla Profile

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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