iA Global Asset Management Inc. Has $69.87 Million Position in Tesla, Inc. (NASDAQ:TSLA)

iA Global Asset Management Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 267,049 shares of the electric vehicle producer’s stock after acquiring an additional 57,420 shares during the period. Tesla makes up about 1.2% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 18th biggest position. iA Global Asset Management Inc.’s holdings in Tesla were worth $69,868,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TSLA. Blue Zone Wealth Advisors LLC grew its holdings in shares of Tesla by 16.0% during the second quarter. Blue Zone Wealth Advisors LLC now owns 7,896 shares of the electric vehicle producer’s stock worth $1,562,000 after purchasing an additional 1,091 shares during the last quarter. Muirfield Wealth Advisors LLC grew its holdings in Tesla by 3.8% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 1,947 shares of the electric vehicle producer’s stock worth $385,000 after acquiring an additional 72 shares during the last quarter. Keystone Wealth Services LLC increased its position in Tesla by 0.8% in the 2nd quarter. Keystone Wealth Services LLC now owns 5,993 shares of the electric vehicle producer’s stock valued at $1,186,000 after acquiring an additional 49 shares in the last quarter. MJP Associates Inc. ADV lifted its position in shares of Tesla by 15.2% during the second quarter. MJP Associates Inc. ADV now owns 4,542 shares of the electric vehicle producer’s stock worth $899,000 after purchasing an additional 600 shares in the last quarter. Finally, GSG Advisors LLC grew its stake in shares of Tesla by 13.0% during the second quarter. GSG Advisors LLC now owns 1,495 shares of the electric vehicle producer’s stock valued at $314,000 after purchasing an additional 172 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Jefferies Financial Group lifted their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $245.84.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $389.22 on Friday. The firm has a 50 day moving average of $282.96 and a 200-day moving average of $236.89. The stock has a market capitalization of $1.25 trillion, a PE ratio of 106.64, a PEG ratio of 11.62 and a beta of 2.36. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $389.49.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 520,280 shares of company stock worth $170,418,640. Insiders own 20.70% of the company’s stock.

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.