iA Global Asset Management Inc. Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

iA Global Asset Management Inc. reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.6% during the 4th quarter, HoldingsChannel reports. The firm owned 220,019 shares of the electric vehicle producer’s stock after selling 47,030 shares during the period. Tesla accounts for approximately 1.6% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 16th biggest holding. iA Global Asset Management Inc.’s holdings in Tesla were worth $88,852,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GS Investments Inc. grew its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla in the 4th quarter worth $46,000. Parkworth Wealth Management Inc. acquired a new stake in shares of Tesla in the 4th quarter worth $47,000. PayPay Securities Corp lifted its stake in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Tesla in the 4th quarter worth $55,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on TSLA shares. Oppenheimer restated a “mixed” rating on shares of Tesla in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI raised their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $321.12.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $235.86 on Thursday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a 50-day simple moving average of $341.28 and a 200-day simple moving average of $320.02. The company has a market cap of $758.65 billion, a PE ratio of 115.62, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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 (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by company insiders.

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.