Intact Investment Management Inc. Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Intact Investment Management Inc. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,800 shares of the electric vehicle producer’s stock after selling 600 shares during the period. Intact Investment Management Inc.’s holdings in Tesla were worth $1,690,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the 4th quarter worth $25,000. Lam Group Inc. acquired a new stake in Tesla during the 4th quarter worth $25,000. Mendota Financial Group LLC raised its stake in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. raised its stake in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Cordant Inc. acquired a new stake in Tesla during the 3rd quarter worth $53,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Friday, April 19th. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research note on Monday, April 22nd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday. Sanford C. Bernstein dropped their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. Finally, Citigroup boosted their price target on shares of Tesla from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $186.70.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. Company insiders own 25.10% of the company’s stock.

Tesla Trading Down 1.1 %

NASDAQ TSLA traded down $1.89 during mid-day trading on Friday, reaching $168.29. 109,309,500 shares of the stock were exchanged, compared to its average volume of 100,050,800. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The business’s fifty day simple moving average is $175.04 and its 200 day simple moving average is $207.61. The stock has a market capitalization of $536.71 billion, a PE ratio of 42.93, a PEG ratio of 4.45 and a beta of 2.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. On average, research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

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.