Canada Pension Plan Investment Board Grows Position in Tesla, Inc. $TSLA

Key Points

• The Canada Pension Plan Investment Board increased its stake in Tesla by 37.0%, owning approximately 3,046,909 shares worth $789,637,000 after buying 823,094 additional shares in Q1.
• During the same period, several other institutional investors also increased their positions in Tesla, with notable increases such as Centennial Bank AR lifting its stake by 833.3%.
• Tesla reported a quarterly revenue decline of 11.8% year-over-year and earnings per share of $0.40, missing the consensus estimate of $0.43.

Canada Pension Plan Investment Board boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 37.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,046,909 shares of the electric vehicle producer's stock after buying an additional 823,094 shares during the period. Canada Pension Plan Investment Board owned approximately 0.09% of Tesla worth $789,637,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank lifted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC boosted its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Tesla in the first quarter valued at approximately $27,000. Finally, Centennial Bank AR lifted its position in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 1.0%

Shares of NASDAQ TSLA opened at $345.98 on Friday. Tesla, Inc. has a 12-month low of $205.97 and a 12-month high of $488.54. The company has a market cap of $1.12 trillion, a price-to-earnings ratio of 199.99, a price-to-earnings-growth ratio of 12.15 and a beta of 2.33. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock's 50 day simple moving average is $323.35 and its 200 day simple moving average is $303.11.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Benchmark restated a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $303.31.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,564 shares of company stock worth $51,792,190. Insiders own 20.70% of the company's stock.

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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