Tesla, Inc. $TSLA Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 7.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 69,280 shares of the electric vehicle producer’s stock after purchasing an additional 4,789 shares during the period. CIBC Private Wealth Group LLC’s holdings in Tesla were worth $30,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Chapman Financial Group LLC acquired a new stake in shares of Tesla in the 2nd quarter worth $26,000. Manning & Napier Advisors LLC purchased a new stake in shares of Tesla in the third quarter valued at about $29,000. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the second quarter worth about $30,000. Turning Point Benefit Group Inc. purchased a new position in Tesla during the third quarter worth about $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in Tesla in the third quarter valued at about $31,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

Tesla Price Performance

TSLA stock opened at $380.24 on Friday. The stock’s 50 day moving average price is $416.30 and its 200 day moving average price is $426.27. The firm has a market cap of $1.43 trillion, a P/E ratio of 352.07, a PEG ratio of 11.61 and a beta of 1.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The company had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. During the same quarter last year, the business posted $0.73 earnings per share. Tesla’s revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TSLA shares. William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, January 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a report on Tuesday, January 27th. Phillip Securities decreased their price target on Tesla from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Monday, February 2nd. UBS Group upped their price objective on Tesla from $307.00 to $352.00 and gave the stock a “sell” rating in a report on Thursday, January 29th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $500.00 target price on shares of Tesla in a report on Thursday, January 29th. Nineteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $406.84.

View Our Latest Report on Tesla

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the completion of the sale, the director directly owned 577,031 shares in the company, valued at $257,009,607.40. The trade was a 9.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at approximately $7,188,625.18. This represents a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 87,995 shares of company stock valued at $38,315,650. 19.90% of the stock is owned by insiders.

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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