CIBC Private Wealth Group LLC Has $34.84 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

CIBC Private Wealth Group LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,203 shares of the electric vehicle producer's stock after selling 9,728 shares during the period. CIBC Private Wealth Group LLC's holdings in Tesla were worth $34,835,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TSLA. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. lifted its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in Tesla during the 4th quarter worth about $38,000. Cyrus J. Lawrence LLC acquired a new stake in Tesla in the 4th quarter valued at about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla in the fourth quarter worth about $46,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of TSLA traded up $9.30 during midday trading on Tuesday, reaching $268.46. The stock had a trading volume of 145,757,545 shares, compared to its average volume of 93,590,317. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $863.51 billion, a PE ratio of 131.60, a P/E/G ratio of 5.86 and a beta of 2.50. The firm has a 50 day simple moving average of $317.98 and a 200-day simple moving average of $323.21.

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Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research reports. Roth Capital raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. UBS Group lowered their price target on shares of Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a research report on Monday, March 10th. Canaccord Genuity Group reissued a "buy" rating and issued a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. Truist Financial lifted their price objective on Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Finally, New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 target price on the stock in a research note on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $317.75.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business'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 transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. 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. 20.70% of the stock is currently owned by company insiders.

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.