Tesla, Inc. (NASDAQ:TSLA) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,279,117 shares of the electric vehicle producer’s stock after selling 104,022 shares during the period. Tesla accounts for about 1.6% of CANADA LIFE ASSURANCE Co’s investment portfolio, making the stock its 7th largest position. CANADA LIFE ASSURANCE Co owned 0.07% of Tesla worth $919,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares in the last quarter. M&T Bank Corp grew its position in shares of Tesla by 13.3% in the 3rd quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer’s stock worth $89,332,000 after acquiring an additional 39,961 shares in the last quarter. McIlrath & Eck LLC lifted its stake in Tesla by 6.0% during the third quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock worth $890,000 after purchasing an additional 192 shares during the last quarter. Advisory Resource Group raised its stake in Tesla by 1.2% during the third quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer’s stock worth $1,115,000 after acquiring an additional 50 shares during the period. Finally, Morse Asset Management Inc lifted its stake in Tesla by 46.0% in the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer’s stock valued at $2,279,000 after buying an additional 2,743 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA stock opened at $241.55 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The business’s fifty day moving average is $277.86 and its 200-day moving average is $322.47. The company has a market cap of $776.95 billion, a P/E ratio of 118.41, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on TSLA. Morgan Stanley lowered their target price on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. The Goldman Sachs Group dropped their price target on shares of Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Glj Research reissued a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Barclays upped their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $292.18.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock valued at $123,791,123 in the last quarter. Company insiders own 20.70% of the company’s stock.

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.