TD Asset Management Inc Boosts Holdings in Tesla, Inc. $TSLA

TD Asset Management Inc grew its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,467,763 shares of the electric vehicle producer’s stock after purchasing an additional 2,381 shares during the quarter. TD Asset Management Inc’s holdings in Tesla were worth $652,744,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Tesla during the second quarter worth about $11,839,824,000. Vanguard Group Inc. raised its holdings in Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the last quarter. Amundi lifted its stake in shares of Tesla by 20.4% during the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock worth $6,374,284,000 after purchasing an additional 3,422,270 shares during the period. Jennison Associates LLC grew its position in shares of Tesla by 38.3% in the third quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer’s stock valued at $4,851,747,000 after purchasing an additional 3,021,550 shares during the period. Finally, Geode Capital Management LLC increased its stake in Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. TD Cowen upped their price objective on shares of Tesla from $509.00 to $519.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Phillip Securities lowered their price objective on shares of Tesla from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Tesla from $500.00 to $480.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Wells Fargo & Company lowered their price target on Tesla from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Thursday, January 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, January 29th. Eighteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $408.09.

View Our Latest Stock Analysis on TSLA

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Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $409.38 on Wednesday. The business’s 50-day simple moving average is $437.53 and its 200 day simple moving average is $420.08. The company has a market cap of $1.54 trillion, a P/E ratio of 379.06, a PEG ratio of 14.13 and a beta of 1.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. Tesla, Inc. has a one year low of $214.25 and a one year high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The company had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. During the same quarter last year, the company earned $0.73 earnings per share. Tesla’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 119,457 shares of company stock valued at $53,501,145 in the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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