TD Asset Management Inc. lowered its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 54.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,876 shares of the electric vehicle producer’s stock after selling 80,930 shares during the period. TD Asset Management Inc.’s holdings in Tesla were worth $24,183,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of TSLA. FMR LLC boosted its stake in shares of Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock valued at $6,804,556,000 after buying an additional 2,400,034 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Tesla by 117.7% in the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock valued at $188,630,000 after buying an additional 366,400 shares during the period. Baillie Gifford & Co. boosted its stake in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock valued at $3,792,025,000 after buying an additional 336,130 shares during the period. Vanguard Group Inc. boosted its stake in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after buying an additional 280,941 shares during the period. Finally, Jennison Associates LLC boosted its stake in Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock valued at $798,576,000 after buying an additional 203,034 shares during the period. Institutional investors own 63.71% of the company’s stock.
Tesla Inc. (NASDAQ TSLA) opened at 357.87 on Friday. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99. The stock’s market capitalization is $59.72 billion. The stock has a 50 day moving average price of $341.13 and a 200-day moving average price of $307.07.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned ($1.06) EPS. The firm’s revenue was up 119.6% on a year-over-year basis. Equities research analysts expect that Tesla Inc. will post ($6.29) EPS for the current year.
TSLA has been the subject of several research analyst reports. J P Morgan Chase & Co increased their price objective on Tesla from $185.00 to $190.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. Goldman Sachs Group, Inc. (The) set a $190.00 price objective on Tesla and gave the stock a “sell” rating in a report on Monday, May 15th. Guggenheim increased their price objective on Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Morgan Stanley cut Tesla from an “overweight” rating to an “equal weight” rating and set a $305.00 price objective for the company. in a report on Monday, May 15th. Finally, Cowen and Company reiterated an “underperform” rating and issued a $155.00 price objective on shares of Tesla in a report on Monday, May 1st. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Tesla has an average rating of “Hold” and a consensus price target of $309.70.
In related news, Director Kimbal Musk sold 4,690 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total value of $1,724,419.20. Following the transaction, the director now directly owns 166,164 shares of the company’s stock, valued at approximately $61,095,179.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.10% of the stock is owned by corporate insiders.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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