Canada Pension Plan Investment Board Has $221.51 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Canada Pension Plan Investment Board grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,119,394 shares of the electric vehicle producer’s stock after purchasing an additional 139,634 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Tesla were worth $221,506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank & Trust Co bought a new position in Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla in the fourth quarter valued at $37,000. Guardian Wealth Management Inc. acquired a new position in Tesla during the fourth quarter worth $47,000. Finally, Kessler Investment Group LLC raised its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. TD Cowen lifted their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Piper Sandler reiterated an “overweight” rating and set a $300.00 price target on shares of Tesla in a report on Monday, August 19th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday, June 10th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, September 5th. Finally, Royal Bank of Canada dropped their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Performance

Shares of TSLA stock opened at $243.92 on Friday. The firm has a market capitalization of $777.91 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 6.00 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $221.50 and its 200-day moving average price is $195.49. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $273.93.

Tesla (NASDAQ:TSLA) last posted 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

About Tesla

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.