BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 8,873 Shares of Tesla, Inc. $TSLA

Key Points

• British Columbia Investment Management Corp increased its stake in Tesla, purchasing an additional 8,873 shares, raising their total holdings to 572,251 shares, valued at approximately $148.3 million.
• Despite a 12 month revenue decrease of 11.8%, Tesla reported earnings per share of $0.40 for the last quarter, missing analysts’ expectations of $0.43.
• Institutional investors currently own 66.20% of Tesla's stock, with various investment firms increasing their positions during the quarter.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 572,251 shares of the electric vehicle producer's stock after purchasing an additional 8,873 shares during the period. Tesla accounts for 0.9% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's portfolio, making the stock its 16th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Tesla were worth $148,305,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla during the 4th quarter valued at $56,600,000. Means Investment CO. Inc. raised its position in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. increased its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares during the last quarter. Keystone Global Partners LLC bought a new stake in Tesla in the 1st quarter valued at $594,000. Finally, IFM Investors Pty Ltd increased its holdings in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after acquiring an additional 46,087 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TSLA shares. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Canaccord Genuity Group lifted their price target on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Bank of America lifted their price target on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Price Performance

TSLA stock opened at $340.01 on Friday. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $321.27 and a 200 day moving average price of $303.60. The stock has a market cap of $1.10 trillion, a PE ratio of 196.54, a P/E/G ratio of 11.13 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock valued at $213,126,501 in the last quarter. Corporate insiders own 20.70% of the company's stock.

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.

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