Ontario Teachers Pension Plan Board Takes $1.24 Million Position in Tesla, Inc. $TSLA

Ontario Teachers Pension Plan Board acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,892 shares of the electric vehicle producer’s stock, valued at approximately $1,236,000.

A number of other large investors have also recently bought and sold shares of TSLA. LGT Financial Advisors LLC purchased a new stake in Tesla in the second quarter valued at $29,000. Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Evergreen Private Wealth LLC lifted its position in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares in the last quarter. Glynn Capital Management LLC purchased a new position in Tesla in the 2nd quarter valued at $35,000. Finally, Maseco LLP purchased a new stake in Tesla during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.6%

Shares of TSLA stock opened at $404.35 on Monday. The company has a market capitalization of $1.34 trillion, a P/E ratio of 269.57, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $429.67 and its two-hundred day moving average is $361.33. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TSLA shares. Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research report on Wednesday, November 5th. TD Cowen lifted their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Melius assumed coverage on Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price objective on the stock. President Capital boosted their target price on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, New Street Research raised their price objective on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $393.61.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

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.