BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Position in Tesla, Inc. (NASDAQ:TSLA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 60.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 549,008 shares of the electric vehicle producer’s stock after acquiring an additional 206,248 shares during the period. Tesla makes up approximately 0.7% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 24th biggest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Tesla were worth $108,638,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. DDFG Inc increased its position in shares of Tesla by 7.1% during the 4th quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after purchasing an additional 71 shares during the last quarter. Vantage Financial Partners LLC raised its position in Tesla by 6.4% in the fourth quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after acquiring an additional 346 shares during the period. Gilbert & Cook Inc. boosted its stake in shares of Tesla by 8.7% during the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock worth $3,357,000 after acquiring an additional 1,086 shares during the last quarter. 9258 Wealth Management LLC grew its position in shares of Tesla by 1.1% during the 4th quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after acquiring an additional 69 shares during the period. Finally, Rollins Financial increased its stake in shares of Tesla by 10.2% in the 4th quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after purchasing an additional 11,191 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and boosted their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. TD Cowen increased their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Stifel Nicolaus initiated coverage on shares of Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price on the stock. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $209.60.

Tesla Trading Up 4.9 %

Shares of NASDAQ TSLA opened at $250.00 on Tuesday. The business’s 50 day moving average price is $221.24 and its 200-day moving average price is $196.58. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market cap of $797.30 billion, a price-to-earnings ratio of 63.78, a PEG ratio of 6.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

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.