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

iA Global Asset Management Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 27.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 267,049 shares of the electric vehicle producer’s stock after acquiring an additional 57,420 shares during the quarter. Tesla comprises approximately 1.2% of iA Global Asset Management Inc.’s portfolio, making the stock its 18th largest holding. iA Global Asset Management Inc.’s holdings in Tesla were worth $69,868,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP grew its holdings in shares of Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 5.3 %

NASDAQ:TSLA opened at $389.22 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $389.49. The firm’s 50-day moving average price is $282.96 and its 200-day moving average price is $236.89. The company has a market capitalization of $1.25 trillion, a PE ratio of 106.64, a P/E/G ratio of 11.62 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Tesla from $287.00 to $411.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Morgan Stanley reissued an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Royal Bank of Canada boosted their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. raised their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $245.84.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 520,280 shares of company stock valued at $170,418,640 in the last quarter. 20.70% of the stock is owned by insiders.

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.