Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,600 shares of the electric vehicle producer’s stock after selling 1,000 shares during the period. Intact Investment Management Inc.’s holdings in Tesla were worth $1,858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors LLC increased its stake in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management increased its stake in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Stephens Consulting LLC grew its stake in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares in the last quarter. Vinva Investment Management Ltd grew its stake in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after buying an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC grew its stake in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TSLA shares. Guggenheim lowered their target price on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Glj Research reiterated a “buy” rating on shares of Tesla in a research note on Tuesday. Morgan Stanley reiterated a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research note on Monday, March 3rd. Finally, Benchmark started coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $325.65.

Tesla Trading Up 3.9 %

Shares of NASDAQ TSLA opened at $249.98 on Friday. The company has a market cap of $804.06 billion, a price-to-earnings ratio of 122.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $351.31 and its 200 day simple moving average is $318.74.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.