BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Position in Tesla Inc (TSLA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Tesla Inc (NASDAQ:TSLA) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,824 shares of the electric vehicle producer’s stock after acquiring an additional 623 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Tesla were worth $23,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Smith Moore & CO. raised its holdings in shares of Tesla by 56.3% in the third quarter. Smith Moore & CO. now owns 972 shares of the electric vehicle producer’s stock valued at $332,000 after buying an additional 350 shares during the last quarter. CIBC World Markets Inc. raised its holdings in shares of Tesla by 74.2% in the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock valued at $3,824,000 after buying an additional 4,504 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Tesla in the second quarter valued at about $681,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Tesla by 2.1% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 38,569 shares of the electric vehicle producer’s stock valued at $13,156,000 after buying an additional 784 shares during the last quarter. Finally, Arrow Financial Corp raised its holdings in shares of Tesla by 13.7% in the third quarter. Arrow Financial Corp now owns 9,338 shares of the electric vehicle producer’s stock valued at $3,186,000 after buying an additional 1,127 shares during the last quarter. 57.20% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on the stock. ValuEngine raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Wednesday. Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the stock a “neutral” rating in a research note on Wednesday, September 20th. Vetr upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $372.51 price target on the stock in a research note on Thursday, August 10th. Jefferies Group began coverage on shares of Tesla in a research note on Tuesday, September 19th. They set an “underperform” rating and a $280.00 price target on the stock. They noted that the move was a valuation call. Finally, Instinet began coverage on shares of Tesla in a research note on Wednesday, October 4th. They set a “buy” rating and a $500.00 price target on the stock. Twelve equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $331.56.

In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $341.69, for a total value of $748,301.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eric Branderiz sold 1,736 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total transaction of $589,354.64. Following the completion of the sale, the vice president now directly owns 1,736 shares of the company’s stock, valued at approximately $589,354.64. The disclosure for this sale can be found here. Insiders sold 10,188 shares of company stock valued at $3,310,563 in the last three months. Company insiders own 23.10% of the company’s stock.

Tesla Inc (TSLA) opened at $313.26 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Tesla Inc has a one year low of $185.00 and a one year high of $389.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the firm posted $0.71 earnings per share. Tesla’s revenue was up 29.9% on a year-over-year basis. research analysts forecast that Tesla Inc will post -11.38 earnings per share for the current year.

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Tesla Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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