Toronto Dominion Bank grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 52.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,691,928 shares of the electric vehicle producer's stock after acquiring an additional 582,738 shares during the period. Tesla comprises approximately 0.8% of Toronto Dominion Bank's investment portfolio, making the stock its 21st biggest holding. Toronto Dominion Bank owned approximately 0.05% of Tesla worth $442,659,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer's stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC increased its position in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer's stock valued at $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer's stock worth $4,328,884,000 after acquiring an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer's stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. 66.20% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on TSLA. Sanford C. Bernstein restated an "underperform" rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Wolfe Research started coverage on shares of Tesla in a report on Thursday, September 5th. They issued a "peer perform" rating on the stock. Truist Financial upped their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a "hold" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $130.00 to $135.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective on Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $254.48.
Check Out Our Latest Analysis on TSLA
In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 522,886 shares of company stock worth $171,393,831 over the last ninety days. Corporate insiders own 20.70% of the company's stock.
Shares of Tesla stock opened at $400.99 on Wednesday. The business's fifty day simple moving average is $288.09 and its 200-day simple moving average is $240.67. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.29 trillion, a PE ratio of 109.86, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $409.73.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping 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 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 firm posted $0.53 earnings per share. Tesla's revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.
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.
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