Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 354,764 shares of the electric vehicle producer’s stock after acquiring an additional 19,789 shares during the period. Tesla makes up approximately 4.7% of Investment Management Corp of Ontario’s portfolio, making the stock its 5th biggest position. Investment Management Corp of Ontario’s holdings in Tesla were worth $143,268,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Investor s Fiduciary Advisor Network LLC acquired a new position in Tesla in the 4th quarter valued at approximately $440,000. Ionic Capital Management LLC bought a new position in Tesla during the 4th quarter worth $485,000. Jacobs Levy Equity Management Inc. raised its position in Tesla by 451.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer’s stock worth $115,143,000 after purchasing an additional 233,460 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Tesla by 97.2% during the 4th quarter. Janus Henderson Group PLC now owns 875,591 shares of the electric vehicle producer’s stock worth $353,519,000 after buying an additional 431,500 shares during the period. Finally, Guardian Wealth Advisors LLC NC grew its position in shares of Tesla by 151.4% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 30,656 shares of the electric vehicle producer’s stock valued at $12,380,000 after buying an additional 18,464 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 4.6 %

NASDAQ:TSLA opened at $298.05 on Friday. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The firm has a 50-day moving average price of $258.65 and a two-hundred day moving average price of $327.43. The firm has a market cap of $960.01 billion, a price-to-earnings ratio of 146.10, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. 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) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 EPS. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Royal Bank of Canada dropped their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. UBS Group decreased their price objective on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. Finally, Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $287.46.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred 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 sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $23,300,200. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,623 shares of company stock worth $114,400,501. 20.70% of the stock is owned by company insiders.

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.