Canada Pension Plan Investment Board Acquires 454,567 Shares of Tesla, Inc. (NASDAQ:TSLA)

Canada Pension Plan Investment Board raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 86.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 979,760 shares of the electric vehicle producer’s stock after acquiring an additional 454,567 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Tesla were worth $172,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lam Group Inc. acquired a new stake in Tesla in the fourth quarter worth $25,000. Mendota Financial Group LLC raised its holdings in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in Tesla in the fourth quarter worth $37,000. Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the period. Finally, Guardian Wealth Management Inc. acquired a new stake in Tesla in the fourth quarter worth $47,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of TSLA traded down $0.45 during midday trading on Friday, reaching $219.80. The stock had a trading volume of 94,604,145 shares, compared to its average volume of 132,509,544. The firm has a 50 day simple moving average of $205.68 and a 200-day simple moving average of $191.23. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The firm has a market cap of $702.18 billion, a PE ratio of 56.07, a P/E/G ratio of 5.50 and a beta of 2.31. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.85 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSLA. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, July 16th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday. Glj Research increased their target price on shares of Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday. HSBC raised their price objective on shares of Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Finally, Stifel Nicolaus began coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective on the stock. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $204.30.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by 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.