TD Asset Management Inc Sells 49,609 Shares of Tesla, Inc. $TSLA

TD Asset Management Inc lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,465,382 shares of the electric vehicle producer’s stock after selling 49,609 shares during the period. TD Asset Management Inc’s holdings in Tesla were worth $465,493,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Brighton Jones LLC raised its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the period. Bison Wealth LLC raised its position in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Tesla by 6.0% in the 1st quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock valued at $9,812,000 after purchasing an additional 2,153 shares during the period. Finally, Vicus Capital boosted its position in shares of Tesla by 71.1% during the first quarter. Vicus Capital now owns 1,389 shares of the electric vehicle producer’s stock valued at $360,000 after purchasing an additional 577 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last ninety days. Insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a report on Wednesday, October 8th. Guggenheim reaffirmed a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a research note on Wednesday. Finally, UBS Group set a $247.00 price target on Tesla in a research report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $363.03.

Tesla Price Performance

TSLA opened at $435.15 on Thursday. The company’s 50-day simple moving average is $383.21 and its two-hundred day simple moving average is $330.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 251.53, a P/E/G ratio of 15.47 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS 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.