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

Desjardins Global Asset Management Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,479 shares of the electric vehicle producer’s stock after selling 1,160 shares during the quarter. Tesla comprises about 0.5% of Desjardins Global Asset Management Inc.’s portfolio, making the stock its 27th biggest position. Desjardins Global Asset Management Inc.’s holdings in Tesla were worth $5,089,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TSLA. Axiom Financial Strategies LLC boosted its position in shares of Tesla by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after purchasing an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after acquiring an additional 164,789 shares during the last quarter. MAS Advisors LLC raised its stake in Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after acquiring an additional 81 shares during the last quarter. Ergoteles LLC raised its stake in Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after acquiring an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Tesla by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after acquiring an additional 4,593 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 in the last ninety days. Insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TSLA shares. UBS Group reduced their target price on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Citigroup reduced their target price on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. Finally, Redburn Atlantic initiated coverage on Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective for the company. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $198.81.

Tesla Price Performance

TSLA stock traded down $4.28 during trading on Tuesday, hitting $157.20. The stock had a trading volume of 86,957,979 shares, compared to its average volume of 102,018,367. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla, Inc. has a twelve month low of $152.37 and a twelve month high of $299.29. The stock has a market capitalization of $500.65 billion, a P/E ratio of 36.36, a PEG ratio of 4.50 and a beta of 2.40. The company’s 50-day moving average price is $181.44 and its two-hundred day moving average price is $213.70.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 1.98 EPS for the current fiscal year.

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.