Tesla, Inc. (NASDAQ:TSLA) Position Raised by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Bank & Trust Co bought a new position in Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group grew its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,797 shares of company stock valued at $57,616,781. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Finally, Stifel Nicolaus boosted their target price on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $228.24.

Tesla Stock Down 5.8 %

Shares of NASDAQ TSLA opened at $311.18 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $998.91 billion, a P/E ratio of 85.25, a P/E/G ratio of 10.73 and a beta of 2.29. The business has a 50-day simple moving average of $248.48 and a two-hundred day simple moving average of $218.94.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.