Caisse DE Depot ET Placement DU Quebec Sells 120,504 Shares of Tesla, Inc. $TSLA

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Tesla by 12.8%, selling 120,504 shares and leaving it with 819,006 shares valued at approximately $212.25 million.
• During the first quarter, several other institutional investors also adjusted their holdings, with Means Investment CO. Inc. increasing its stake by 37.7% and IFM Investors Pty Ltd boosting theirs by 8.5%.
• Tesla stock has opened at $340.01, reflecting a 6.2% increase, while the company reported earnings of $0.40 per share, missing analyst expectations.

Caisse DE Depot ET Placement DU Quebec cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 819,006 shares of the electric vehicle producer's stock after selling 120,504 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Tesla were worth $212,254,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. Means Investment CO. Inc. raised its stake in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. increased its position in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares in the last quarter. Keystone Global Partners LLC bought a new stake in shares of Tesla during the first quarter worth about $594,000. IFM Investors Pty Ltd increased its position in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new stake in shares of Tesla during the fourth quarter worth about $8,158,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock valued at $213,126,501 in the last three months. Insiders own 20.70% of the company's stock.

Tesla Stock Up 6.2%

Tesla stock opened at $340.01 on Monday. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54. The stock has a market cap of $1.10 trillion, a PE ratio of 196.54, a price-to-earnings-growth ratio of 11.82 and a beta of 2.33. The firm's 50-day simple moving average is $321.27 and its 200 day simple moving average is $302.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. HSBC reissued a "reduce" rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research report on Sunday, August 17th. Mizuho decreased their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Finally, Canaccord Genuity Group boosted their target price on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company's stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $303.31.

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.

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