Scotia Capital Inc. Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Scotia Capital Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,069 shares of the electric vehicle producer’s stock after acquiring an additional 9,055 shares during the period. Scotia Capital Inc.’s holdings in Tesla were worth $41,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of TSLA. Horrell Capital Management Inc. raised its holdings in Tesla by 75.6% during 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 in the last quarter. GS Investments Inc. boosted its holdings in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the 4th quarter valued at $38,000. Delos Wealth Advisors LLC lifted its holdings in shares of Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after acquiring an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new position in Tesla in the 4th quarter worth $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price objective on shares of Tesla in a research report on Monday, March 17th. Wells Fargo & Company reduced their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Royal Bank of Canada lowered their target price on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $425.00 target price on shares of Tesla in a research note on Thursday, April 3rd. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $301.40.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. The trade was a 12.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 in the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

TSLA opened at $272.20 on Thursday. The stock has a fifty day simple moving average of $290.62 and a two-hundred day simple moving average of $323.14. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $875.54 billion, a price-to-earnings ratio of 133.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

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