AGF Management Ltd. Grows Position in Tesla, Inc. $TSLA

AGF Management Ltd. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8,972.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 545,090 shares of the electric vehicle producer’s stock after purchasing an additional 539,082 shares during the period. AGF Management Ltd.’s holdings in Tesla were worth $173,153,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Bison Wealth LLC boosted its position in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after buying an additional 3,558 shares in the last quarter. Alps Advisors Inc. grew its stake in Tesla by 13.4% in the 1st quarter. Alps Advisors Inc. now owns 20,169 shares of the electric vehicle producer’s stock valued at $5,227,000 after acquiring an additional 2,379 shares during the last quarter. Finally, Phillips Financial Management LLC increased its holdings in Tesla by 9.9% during the 1st quarter. Phillips Financial Management LLC now owns 3,746 shares of the electric vehicle producer’s stock valued at $971,000 after acquiring an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Price Performance

TSLA opened at $429.52 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The company’s 50 day simple moving average is $420.97 and its 200 day simple moving average is $354.73. The stock has a market capitalization of $1.43 trillion, a PE ratio of 286.35, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent research reports. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research report on Wednesday. Dbs Bank upgraded Tesla to a “hold” rating in a report on Wednesday. Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, President Capital upped their price objective on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eleven have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $391.08.

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.