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

CIBC Private Wealth Group LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TSLA. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust purchased a new position in Tesla during the 4th quarter worth approximately $38,000. Cyrus J. Lawrence LLC acquired a new position in Tesla during the fourth quarter worth approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $263.55 on Monday. The stock’s 50 day moving average price is $321.33 and its 200 day moving average price is $323.01. The firm has a market cap of $847.71 billion, a P/E ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

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

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America cut their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Robert W. Baird reduced their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Piper Sandler lowered their price target on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective for the company in a research note on Wednesday, March 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $550.00 target price on shares of Tesla in a research note on Thursday. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $318.34.

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.