BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 62,329 Shares of Tesla, Inc. (NASDAQ:TSLA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 563,378 shares of the electric vehicle producer's stock after purchasing an additional 62,329 shares during the quarter. Tesla makes up 1.4% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's portfolio, making the stock its 12th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Tesla were worth $227,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hengehold Capital Management LLC increased its holdings in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock worth $544,000 after buying an additional 24 shares in the last quarter. Strategic Investment Advisors MI increased its holdings in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after buying an additional 24 shares in the last quarter. Vista Finance LLC increased its holdings in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after buying an additional 25 shares in the last quarter. Prospect Financial Services LLC increased its holdings in shares of Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer's stock worth $3,029,000 after buying an additional 26 shares in the last quarter. Finally, Jmac Enterprises LLC increased its holdings in shares of Tesla by 0.7% during the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock worth $1,569,000 after buying an additional 26 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $343.82 on Wednesday. The firm's 50 day simple moving average is $271.29 and its 200 day simple moving average is $331.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 168.54, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) 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 the consensus estimate of $22.93 billion. During the same quarter last year, the company earned $0.45 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TSLA. Wells Fargo & Company dropped their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Roth Mkm decreased their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and increased their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Canaccord Genuity Group decreased their price target on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group decreased their price target on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $289.43.

Insiders Place Their Bets

In related news, Director Joseph Gebbia bought 4,000 shares of Tesla stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the purchase, the director now owns 4,111 shares in the company, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $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. Insiders sold 415,623 shares of company stock worth $116,650,831 over the last ninety days. 20.70% of the stock is currently owned by corporate 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.

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