CIBC Asset Management Inc Increases Stake in Tesla, Inc. $TSLA

Key Points

• CIBC Asset Management increased its Tesla stake by 52.5% in the fourth quarter, buying 370,156 more shares and bringing its total holdings to 1,074,771 shares valued at about $483.3 million.
• Insider selling picked up, with CFO Vaibhav Taneja and Director Kathleen Wilson-Thompson both selling shares; insiders sold 57,482 shares worth $21.5 million over the last quarter.
• Analysts remain mixed on TSLA, with 19 Buy ratings, 17 Hold ratings, and 5 Sell ratings, while MarketBeat’s consensus view stays at Hold with a $395.20 target price.

CIBC Asset Management Inc boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 52.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,074,771 shares of the electric vehicle producer's stock after purchasing an additional 370,156 shares during the period. Tesla makes up about 1.2% of CIBC Asset Management Inc's portfolio, making the stock its 24th biggest position. CIBC Asset Management Inc's holdings in Tesla were worth $483,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Networth Advisors LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $26,000. Chapman Financial Group LLC purchased a new position in Tesla in the 2nd quarter worth $26,000. Davidson Capital Management Inc. lifted its position in Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 27 shares during the period. Prism Advisors Inc. purchased a new stake in Tesla during the 4th quarter valued at about $30,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Tesla during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer owned 18,106 shares of the company's stock, valued at $8,147,700. This represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 57,482 shares of company stock valued at $21,508,331. 19.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TSLA shares. Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Tesla in a report on Monday, April 27th. Benchmark restated a "buy" rating on shares of Tesla in a research note on Wednesday, February 11th. BNP Paribas Exane raised shares of Tesla from an "underperform" rating to a "neutral" rating in a report on Monday, April 27th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Tesla in a research note on Monday. Nineteen research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $395.20.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s China-made EV sales rose 39.4% in May, extending six straight months of growth and signaling resilience despite intense competition from Chinese automakers. Reuters: Tesla's Chinese-made EV sales rise 39.4% in May
• Positive Sentiment: Tesla also saw a sharp rebound in several European markets, including a major jump in France registrations and stronger Model Y demand, which supports hopes for a Q2 delivery beat. Reuters: Tesla May registrations jump in several European markets
• Positive Sentiment: Investor optimism improved after Elon Musk highlighted how small Tesla’s IPO valuation was relative to today’s market cap, reinforcing the company’s long-term growth narrative and helping the shares bounce. Yahoo Finance: Tesla’s IPO Was One of the Greatest Ever
• Positive Sentiment: Reports that Estonia cleared Tesla’s FSD driver-assistance system for use could modestly bolster confidence in Tesla’s autonomy roadmap and international acceptance of its software. Insider Monkey: Estonia clears Tesla’s FSD system for use
• Neutral Sentiment: Heavy trading around Tesla’s rumored ties to SpaceX, including speculation about a merger or IPO-related “Musk premium,” is driving volatility but remains highly speculative and not directly tied to Tesla’s fundamentals. Benzinga: What Happens To TSLA If It Merges With SpaceX?
• Neutral Sentiment: News that Tesla withdrew a termination notice on its graphite supply deal with Syrah Resources reduces supply-chain uncertainty, but the issue appears to be settling rather than creating a major new catalyst. Reuters: Tesla withdraws termination notice on graphite supply deal
• Negative Sentiment: Tesla faces rising competition in humanoid robotics and AI, with OpenAI and Nvidia both moving into areas that overlap with Tesla’s Optimus ambitions, raising concern about future growth optionality. Benzinga: Nvidia is taking on Tesla in the humanoid robot race
• Negative Sentiment: Articles warning that a potential SpaceX-Tesla combination could be value-destructive are adding pressure by suggesting the market may be overestimating the “Musk premium” embedded in TSLA. TipRanks: Potential SpaceX and Tesla merger blasted as value destroying
• Negative Sentiment: New concerns about Tesla’s robotaxi program and litigation risk, including scrutiny under Texas legislation and a China FSD lawsuit, could weigh on sentiment around autonomy monetization. Yahoo Finance: Tesla faces China FSD lawsuit

Tesla Stock Performance

TSLA opened at $423.74 on Wednesday. The firm's fifty day simple moving average is $392.55 and its two-hundred day simple moving average is $416.03. Tesla, Inc. has a 52-week low of $273.21 and a 52-week high of $498.83. The company has a market cap of $1.59 trillion, a price-to-earnings ratio of 388.75, a PEG ratio of 16.42 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion during the quarter, compared to analysts' expectations of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

About Tesla

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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