Tesla, Inc. (NASDAQ:TSLA) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 9.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 88,203 shares of the electric vehicle producer’s stock after selling 9,728 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Tesla were worth $34,835,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TSLA. Hengehold Capital Management LLC grew its stake in Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares during the period. Strategic Investment Advisors MI lifted its holdings in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares in the last quarter. Acropolis Investment Management LLC boosted its position in Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD increased its holdings in Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares in the last quarter. Finally, Vista Finance LLC raised its position in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $263.55 on Monday. The company has a 50-day moving average price of $321.33 and a two-hundred day moving average price of $323.01. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TSLA shares. Benchmark assumed coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. Piper Sandler dropped their price objective on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Barclays upped their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. UBS Group dropped their price target on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Finally, Truist Financial raised their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $318.34.

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.