Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Scotia Capital Inc.

Scotia Capital Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,069 shares of the electric vehicle producer’s stock after purchasing an additional 9,055 shares during the quarter. Scotia Capital Inc.’s holdings in Tesla were worth $41,626,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Destination Wealth Management raised its holdings in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares during the last quarter. Stephens Consulting LLC grew its holdings in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares in the last quarter. Worth Asset Management LLC lifted its stake in shares of Tesla by 383.1% in the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock valued at $3,358,000 after purchasing an additional 6,593 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its position in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after acquiring an additional 1,629 shares during the last quarter. Finally, Ameritas Advisory Services LLC lifted its position in Tesla by 104.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock worth $23,242,000 after acquiring an additional 29,458 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLA. Bank of America lowered their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Barclays raised their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald restated an “overweight” rating and set a $425.00 target price on shares of Tesla in a research note on Thursday, April 3rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $404.00 target price on shares of Tesla in a research report on Monday, March 17th. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $301.40.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $272.20 on Thursday. The company has a market cap of $875.54 billion, a P/E ratio of 133.43, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $290.62 and a 200-day simple moving average of $323.14. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

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 forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock valued at $123,791,123 over the last quarter. Company insiders own 20.70% of the company’s stock.

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.