Healthcare of Ontario Pension Plan Trust Fund Has $416.34 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Healthcare of Ontario Pension Plan Trust Fund grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 236.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,104,010 shares of the electric vehicle producer’s stock after buying an additional 1,479,378 shares during the period. Tesla accounts for about 1.2% of Healthcare of Ontario Pension Plan Trust Fund’s holdings, making the stock its 14th biggest holding. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Tesla were worth $416,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Bank & Trust Co bought a new stake in Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the 4th quarter valued at $37,000. Finally, Kessler Investment Group LLC boosted its holdings in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 1.4 %

TSLA opened at $258.02 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $824.28 billion, a P/E ratio of 65.82, a P/E/G ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The business has a fifty day simple moving average of $222.33 and a 200-day simple moving average of $200.24.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the business earned $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. HSBC upped their price target on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday, June 10th. Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Finally, William Blair began coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $209.90.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock valued at $16,663,291 over the last quarter. 25.10% 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.