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

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 60.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 549,008 shares of the electric vehicle producer’s stock after acquiring an additional 206,248 shares during the period. Tesla makes up about 0.7% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s portfolio, making the stock its 24th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Tesla were worth $108,638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Bank & Trust Co purchased a new position in shares of Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla in the fourth quarter worth $37,000. Kessler Investment Group LLC grew its holdings in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the last quarter. Finally, Aspect Partners LLC increased its position in shares of Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

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

Tesla Price Performance

NASDAQ:TSLA opened at $250.00 on Tuesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The stock has a market cap of $797.30 billion, a PE ratio of 63.78, a P/E/G ratio of 6.00 and a beta of 2.29. 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 stock has a 50 day moving average price of $221.24 and a 200 day moving average price of $196.58.

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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the business earned $0.78 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSLA. Mizuho boosted their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a report on Wednesday, July 24th. Canaccord Genuity Group restated a “buy” rating and set a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. 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. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $209.60.

Tesla Company 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.