TD Asset Management Inc Increases Position in Tesla, Inc. $TSLA

TD Asset Management Inc lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,491,144 shares of the electric vehicle producer’s stock after acquiring an additional 23,381 shares during the quarter. TD Asset Management Inc’s holdings in Tesla were worth $670,597,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. PFS Partners LLC increased its position in shares of Tesla by 4.2% during the fourth quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer’s stock worth $265,000 after acquiring an additional 24 shares during the last quarter. Presidio Capital Management LLC increased its holdings in Tesla by 0.6% in the third quarter. Presidio Capital Management LLC now owns 3,996 shares of the electric vehicle producer’s stock valued at $1,777,000 after buying an additional 25 shares during the last quarter. Journey Advisory Group LLC increased its holdings in Tesla by 0.7% in the third quarter. Journey Advisory Group LLC now owns 3,414 shares of the electric vehicle producer’s stock valued at $1,518,000 after buying an additional 25 shares during the last quarter. Boltwood Capital Management increased its holdings in Tesla by 1.2% in the fourth quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer’s stock valued at $953,000 after buying an additional 25 shares during the last quarter. Finally, Woodmont Investment Counsel LLC increased its holdings in Tesla by 1.2% in the fourth quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer’s stock valued at $955,000 after buying an additional 25 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $423.70 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average of $394.52 and a two-hundred day moving average of $416.14. Tesla, Inc. has a 52 week low of $273.21 and a 52 week high of $498.83. The company has a market cap of $1.59 trillion, a P/E ratio of 388.72, a PEG ratio of 16.73 and a beta of 1.80.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. Tesla’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.2 EPS for the current year.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s China-made EV sales rose nearly 40% in May, suggesting a firmer recovery in a key market. Reuters article
• Positive Sentiment: Tesla expanded its unsupervised robotaxi service area in Austin, supporting the autonomy growth narrative. Reuters article
• Positive Sentiment: FSD Supervised reportedly gained approval in Estonia, extending Tesla’s driver-assistance rollout in Europe. Zacks article
• Neutral Sentiment: SpaceX’s IPO and talk of a possible Tesla-SpaceX link are drawing attention to Elon Musk’s broader empire, but this is still speculative for TSLA. CNBC article
• Negative Sentiment: Tesla settled some racism claims in California, while a larger jury trial still looms as a legal overhang. TipRanks article
• Negative Sentiment: New FSD-related litigation in China and intensifying robotics competition raise concerns about Tesla’s valuation and growth story. Yahoo Finance article

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TSLA. Canaccord Genuity Group boosted their price objective on Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Truist Financial lowered their price objective on Tesla from $438.00 to $400.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a report on Thursday, April 23rd. Jefferies Financial Group reissued a “neutral” rating on shares of Tesla in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. reissued a “sell” rating on shares of Tesla in a report on Tuesday. Nineteen equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $395.20.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares in the company, valued at $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 57,482 shares of company stock valued at $21,508,331. 19.90% of the stock is currently owned by insiders.

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.