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

CIBC Private Wealth Group LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 204.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,232 shares of the electric vehicle producer’s stock after acquiring an additional 69,947 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Tesla were worth $27,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Capricorn Investment Group LLC increased its stake in shares of Tesla by 200.0% in the third quarter. Capricorn Investment Group LLC now owns 210,960 shares of the electric vehicle producer’s stock valued at $55,957,000 after purchasing an additional 140,640 shares during the period. Capstone Financial Advisors Inc. boosted its holdings in Tesla by 205.1% during the third quarter. Capstone Financial Advisors Inc. now owns 4,695 shares of the electric vehicle producer’s stock worth $1,245,000 after buying an additional 3,156 shares in the last quarter. Carlson Capital Management boosted its holdings in Tesla by 298.9% during the third quarter. Carlson Capital Management now owns 1,887 shares of the electric vehicle producer’s stock worth $501,000 after buying an additional 1,414 shares in the last quarter. Claraphi Advisory Network LLC boosted its holdings in Tesla by 90.4% during the third quarter. Claraphi Advisory Network LLC now owns 29,289 shares of the electric vehicle producer’s stock worth $7,769,000 after buying an additional 13,905 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in Tesla by 200.2% during the third quarter. Clearstead Advisors LLC now owns 49,075 shares of the electric vehicle producer’s stock worth $13,017,000 after buying an additional 32,725 shares in the last quarter. Institutional investors and hedge funds own 43.00% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $183.26 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.05. The firm has a market capitalization of $579.85 billion, a price-to-earnings ratio of 50.58, a P/E/G ratio of 2.10 and a beta of 2.06. The company’s fifty day moving average is $171.23 and its two-hundred day moving average is $198.59. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29.

Tesla (NASDAQ:TSLA – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.21. The company had revenue of $24.32 billion for the quarter, compared to analyst estimates of $24.26 billion. Tesla had a net margin of 15.41% and a return on equity of 31.71%. The business’s quarterly revenue was up 37.2% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Equities research analysts forecast that Tesla, Inc. will post 3.43 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Zachary Kirkhorn sold 3,752 shares of the firm’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the sale, the chief financial officer now directly owns 200,411 shares in the company, valued at approximately $21,906,926.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Zachary Kirkhorn sold 3,752 shares of Tesla stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total transaction of $410,131.12. Following the sale, the chief financial officer now directly owns 200,411 shares in the company, valued at approximately $21,906,926.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $117.50, for a total transaction of $1,233,750.00. Following the sale, the senior vice president now owns 64,259 shares in the company, valued at $7,550,432.50. The disclosure for this sale can be found here. Insiders have sold 53,221 shares of company stock worth $8,988,542 in the last ninety days. Insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, March 2nd. Guggenheim lowered shares of Tesla from a “neutral” rating to a “sell” rating in a research note on Friday, January 13th. Wells Fargo & Company raised their price objective on shares of Tesla from $150.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, February 24th. Piper Sandler decreased their target price on shares of Tesla from $340.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, January 18th. Finally, Argus decreased their target price on shares of Tesla from $374.00 to $257.00 and set a “buy” rating for the company in a research note on Friday, January 27th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $221.39.

About Tesla

(Get Rating)

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.