TD Asset Management Inc. Acquires 36,772 Shares of Tesla, Inc. (NASDAQ:TSLA)

TD Asset Management Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,503,019 shares of the electric vehicle producer's stock after buying an additional 36,772 shares during the quarter. TD Asset Management Inc.'s holdings in Tesla were worth $606,979,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Horrell Capital Management Inc. increased its position in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in Tesla during the 4th quarter worth $38,000. Cyrus J. Lawrence LLC bought a new position in shares of Tesla in the 4th quarter worth $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla during the fourth quarter worth $46,000. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company's stock.

Remove Ads

Tesla Trading Up 3.4 %

Shares of NASDAQ:TSLA traded up $9.56 during midday trading on Tuesday, hitting $287.95. 148,758,365 shares of the stock were exchanged, compared to its average volume of 91,639,279. The stock has a market capitalization of $926.20 billion, a price-to-earnings ratio of 141.15, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The business's 50-day moving average price is $330.52 and its 200 day moving average price is $322.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TSLA shares. Mizuho lowered their price target on Tesla from $515.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday, March 17th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Monday, February 10th. Royal Bank of Canada dropped their target price on shares of Tesla from $440.00 to $320.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. StockNews.com downgraded shares of Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, UBS Group reduced their price target on Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a research report on Monday, March 10th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $318.93.

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.