Investment Management Corp of Ontario Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Investment Management Corp of Ontario increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354,764 shares of the electric vehicle producer's stock after buying an additional 19,789 shares during the period. Tesla accounts for about 4.7% of Investment Management Corp of Ontario's investment portfolio, making the stock its 5th biggest holding. Investment Management Corp of Ontario's holdings in Tesla were worth $143,268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC increased its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Finally, Northern Trust Corp increased its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TSLA shares. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and lifted their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Roth Mkm dropped their target price 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. Finally, Mizuho cut their price target on shares of Tesla from $375.00 to $325.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Ten 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $287.46.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the transaction, the chief financial officer now directly owns 23,084 shares of the company's stock, valued at $6,833,325.68. This trade represents a 20.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now owns 85,000 shares in the company, valued at $25,466,850. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,623 shares of company stock worth $114,400,501 in the last 90 days. Company insiders own 20.70% of the company's stock.

Tesla Stock Up 4.6 %

TSLA stock opened at $298.05 on Friday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. 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 stock has a market capitalization of $960.01 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 5.86 and a beta of 2.43. The business's fifty day moving average price is $258.65 and its two-hundred day moving average price is $327.43.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 analyst estimates of $22.93 billion. During the same quarter last year, the firm earned $0.45 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

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.