Tesla, Inc. (NASDAQ:TSLA) Stock Position Reduced by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co cut its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,279,117 shares of the electric vehicle producer's stock after selling 104,022 shares during the quarter. Tesla comprises 1.6% of CANADA LIFE ASSURANCE Co's investment portfolio, making the stock its 7th biggest position. CANADA LIFE ASSURANCE Co owned about 0.07% of Tesla worth $919,462,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its position in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank bought a new position in shares of Tesla in the 4th quarter worth $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock valued at $6,996,871,000 after purchasing an additional 780,026 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $15.94 during midday trading on Monday, reaching $225.43. The company's stock had a trading volume of 52,568,898 shares, compared to its average volume of 95,870,678. The stock has a fifty day moving average of $273.93 and a 200 day moving average of $323.29. The firm has a market capitalization of $725.10 billion, a PE ratio of 110.51, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Royal Bank of Canada reduced their target price on shares of Tesla from $440.00 to $320.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Bank of America cut their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. UBS Group decreased their price objective on Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Finally, The Goldman Sachs Group reduced their price target on Tesla from $320.00 to $275.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $290.66.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company's stock, valued at $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 a total of 374,228 shares of company stock valued at $123,791,123 in the last three months. 20.70% of the stock is currently 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.