Tesla, Inc. (NASDAQ:TSLA) Stake Increased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,223,815 shares of the electric vehicle producer's stock after buying an additional 265,437 shares during the quarter. Tesla accounts for approximately 0.9% of Canada Pension Plan Investment Board's holdings, making the stock its 23rd biggest holding. Canada Pension Plan Investment Board owned about 0.07% of Tesla worth $898,065,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TSLA. Principal Financial Group Inc. increased its holdings in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after acquiring an additional 194,796 shares during the period. M&T Bank Corp grew its holdings in Tesla by 13.3% in the 3rd quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer's stock worth $89,332,000 after buying an additional 39,961 shares in the last quarter. McIlrath & Eck LLC boosted its position in Tesla by 6.0% during the 3rd quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer's stock worth $890,000 after acquiring an additional 192 shares during the period. Advisory Resource Group raised its position in shares of Tesla by 1.2% during the 3rd quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer's stock worth $1,115,000 after buying an additional 50 shares in the last quarter. Finally, Morse Asset Management Inc boosted its stake in Tesla by 46.0% during the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer's stock valued at $2,279,000 after buying an additional 2,743 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TSLA shares. HSBC reduced their price target on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and lifted their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Stifel Nicolaus cut their price objective on shares of Tesla from $474.00 to $455.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Benchmark lowered their price objective on shares of Tesla from $475.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Nine equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $290.66.

Tesla Stock Down 7.0 %

Shares of TSLA traded down $16.97 during midday trading on Monday, hitting $224.40. The company had a trading volume of 46,799,118 shares, compared to its average volume of 95,846,557. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company's 50-day simple moving average is $273.93 and its 200-day simple moving average is $323.29. The firm has a market capitalization of $721.79 billion, a P/E ratio of 110.00, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is owned by company insiders.

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.