CIBC Asset Management Inc Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

CIBC Asset Management Inc lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 724,497 shares of the electric vehicle producer's stock after purchasing an additional 42,453 shares during the period. CIBC Asset Management Inc's holdings in Tesla were worth $189,550,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. grew its stake in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock worth $37,801,000 after purchasing an additional 1,741 shares during the last quarter. Tyler Stone Wealth Management increased its stake in shares of Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer's stock valued at $2,466,000 after buying an additional 4,929 shares during the period. Savvy Advisors Inc. raised its holdings in shares of Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer's stock valued at $1,969,000 after acquiring an additional 1,467 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its stake in Tesla by 19.0% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer's stock worth $6,394,000 after acquiring an additional 3,909 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after acquiring an additional 194,796 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Tesla stock traded up $8.82 during trading on Friday, reaching $320.00. The company had a trading volume of 95,421,469 shares, compared to its average volume of 95,942,047. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.49, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The firm's 50-day simple moving average is $250.10 and its 200 day simple moving average is $219.58.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 EPS. Tesla's revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on TSLA. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Phillip Securities lowered Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday. William Blair began coverage on Tesla in a research report on Thursday, August 29th. They set an "outperform" rating on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their target price on shares of Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a report on Thursday. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $230.18.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 188,797 shares of company stock worth $57,616,781. Insiders own 20.70% of the company's stock.

About Tesla

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.