The Manufacturers Life Insurance Company Grows Position in Tesla, Inc. (NASDAQ:TSLA)

The Manufacturers Life Insurance Company increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,971,026 shares of the electric vehicle producer's stock after purchasing an additional 133,809 shares during the period. Tesla makes up about 0.7% of The Manufacturers Life Insurance Company's portfolio, making the stock its 26th biggest holding. The Manufacturers Life Insurance Company owned approximately 0.06% of Tesla worth $795,979,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. raised its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in Tesla during the fourth quarter worth $38,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Tesla in the 4th quarter valued at $39,000. Finally, Delos Wealth Advisors LLC raised its holdings in shares of Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock worth $40,000 after buying an additional 75 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 3.4 %

Shares of NASDAQ TSLA traded down $9.87 during mid-day trading on Wednesday, reaching $282.16. 128,089,451 shares of the company's stock traded hands, compared to its average volume of 95,653,420. The stock has a market cap of $908.82 billion, a P/E ratio of 138.31, a PEG ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The business has a 50-day simple moving average of $261.24 and a 200 day simple moving average of $323.87.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the business earned $0.45 EPS. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. Guggenheim reiterated a "sell" rating and issued a $170.00 target price on shares of Tesla in a research report on Thursday, April 24th. Argus set a $410.00 price target on shares of Tesla in a report on Thursday, April 24th. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley reaffirmed a "buy" rating and set a $430.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $287.46.

Insider Activity at Tesla

In other Tesla news, Director Joseph Gebbia acquired 4,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were acquired at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the transaction, 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 SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock valued at $123,791,123 over the last ninety days. 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.