Cibc World Markets Corp Has $192.65 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cibc World Markets Corp decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 16.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 477,042 shares of the electric vehicle producer’s stock after selling 91,128 shares during the quarter. Tesla accounts for approximately 1.1% of Cibc World Markets Corp’s holdings, making the stock its 17th biggest holding. Cibc World Markets Corp’s holdings in Tesla were worth $192,649,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TSLA. SouthState Corp grew its holdings in shares of Tesla by 4.3% in the 4th quarter. SouthState Corp now owns 3,118 shares of the electric vehicle producer’s stock worth $1,259,000 after purchasing an additional 129 shares during the last quarter. Gold Investment Management Ltd. grew its holdings in shares of Tesla by 90.5% in the 4th quarter. Gold Investment Management Ltd. now owns 13,000 shares of the electric vehicle producer’s stock worth $5,250,000 after purchasing an additional 6,176 shares during the last quarter. Rockport Wealth LLC bought a new stake in shares of Tesla in the 4th quarter worth about $244,000. RS Crum Inc. grew its holdings in shares of Tesla by 4.3% in the 4th quarter. RS Crum Inc. now owns 1,352 shares of the electric vehicle producer’s stock worth $546,000 after purchasing an additional 56 shares during the last quarter. Finally, SlateStone Wealth LLC grew its holdings in shares of Tesla by 36.3% in the 4th quarter. SlateStone Wealth LLC now owns 2,307 shares of the electric vehicle producer’s stock worth $932,000 after purchasing an additional 614 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were 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 of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $249.98 on Monday. The stock has a market capitalization of $804.06 billion, a P/E ratio of 122.54, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a 50 day moving average of $351.31 and a 200-day moving average of $320.31. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on TSLA. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Monday, February 10th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Stifel Nicolaus decreased their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $325.65.

Tesla 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.