Tesla, Inc. (NASDAQ:TSLA) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 17.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,019 shares of the electric vehicle producer’s stock after selling 47,030 shares during the quarter. Tesla makes up 1.6% of iA Global Asset Management Inc.’s holdings, making the stock its 16th biggest position. iA Global Asset Management Inc.’s holdings in Tesla were worth $88,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Strategic Financial Concepts LLC boosted its position in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after acquiring an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 4.7 %

Shares of NASDAQ:TSLA opened at $235.86 on Thursday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company’s 50 day moving average is $341.28 and its two-hundred day moving average is $320.02. 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 company has a market cap of $758.65 billion, a PE ratio of 115.62, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLA. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Piper Sandler lifted their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Truist Financial lifted their target price on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $321.12.

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.