TD Asset Management Inc. Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

TD Asset Management Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,503,019 shares of the electric vehicle producer’s stock after purchasing 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.

Several other institutional investors have also added to or reduced their stakes in the stock. Horrell Capital Management Inc. raised its holdings 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 in the last quarter. GS Investments Inc. grew its position 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 worth $36,000 after buying an additional 58 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Tesla in the 4th quarter worth about $38,000. Cyrus J. Lawrence LLC purchased a new position in Tesla during the 4th quarter valued at about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla during the fourth quarter worth about $46,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 11.9 %

TSLA stock opened at $278.39 on Tuesday. The business’s 50-day moving average price is $332.69 and its 200-day moving average price is $321.49. The stock has a market cap of $895.45 billion, a P/E ratio of 136.47, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSLA shares. Mizuho lowered their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Robert W. Baird dropped their target price on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Evercore ISI lifted their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 12th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $318.93.

Tesla 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.