TD Asset Management Inc Purchases 11,972 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• TD Asset Management Inc increased its holdings in Tesla by 0.8%, acquiring an additional 11,972 shares during the first quarter, bringing its total to 1,514,991 shares valued at approximately $392.6 million.
• A number of institutional investors have recently adjusted their positions in Tesla, with Cherry Tree Wealth Management increasing its position by 86.3% and Newton One Investments by 250% in the same period.
• Tesla's stock recently saw a rise of 3.5% and has a current consensus rating of "Hold" with a price target of $302.75 according to recent analyst reports.

TD Asset Management Inc lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,514,991 shares of the electric vehicle producer's stock after acquiring an additional 11,972 shares during the period. TD Asset Management Inc's holdings in Tesla were worth $392,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC increased its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLA. Wedbush reiterated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research report on Tuesday. Cantor Fitzgerald lowered their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, Roth Mkm decreased their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $302.75.

Tesla Stock Up 3.5%

Tesla stock opened at $316.06 on Friday. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The firm has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 182.69, a price-to-earnings-growth ratio of 11.59 and a beta of 2.39. The firm's fifty day moving average price is $324.70 and its two-hundred day moving average price is $314.65. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

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

Insider Transactions at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 835,509 shares of company stock valued at $279,420,485. Corporate insiders own 20.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.