Healthcare of Ontario Pension Plan Trust Fund Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 79.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 436,370 shares of the electric vehicle producer’s stock after selling 1,667,640 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Tesla were worth $114,167,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in shares of Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after buying an additional 1,741 shares during the period. Tyler Stone Wealth Management boosted its position in Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares during the period. Savvy Advisors Inc. lifted its holdings in Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after buying an additional 1,467 shares in the last quarter. Blackhawk Capital Partners LLC. lifted its holdings in Tesla by 102.0% in the 3rd quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock worth $1,465,000 after buying an additional 2,827 shares in the last quarter. Finally, West Family Investments Inc. lifted its holdings in Tesla by 20.8% in the 3rd quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock worth $2,361,000 after buying an additional 1,556 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. Wells Fargo & Company upped their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Barclays upped their target price on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Piper Sandler increased their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group increased their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $231.06.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,187 shares of company stock valued at $92,956,692. Company insiders own 20.70% of the company’s stock.

Tesla Stock Down 0.1 %

TSLA stock opened at $338.23 on Wednesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.93. The firm has a market cap of $1.09 trillion, a PE ratio of 92.67, a P/E/G ratio of 11.00 and a beta of 2.29. The firm has a 50 day simple moving average of $268.52 and a 200 day simple moving average of $229.16. 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 released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the business earned $0.53 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

About Tesla

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.