Cardinal Point Capital Management ULC Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Cardinal Point Capital Management ULC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,536 shares of the electric vehicle producer’s stock after selling 92 shares during the period. Tesla comprises 1.0% of Cardinal Point Capital Management ULC’s investment portfolio, making the stock its 18th biggest position. Cardinal Point Capital Management ULC’s holdings in Tesla were worth $6,274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP boosted its stake in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Wellington Management Group LLP raised its holdings in shares of Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 1.7 %

TSLA stock opened at $396.36 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $1.27 trillion, a PE ratio of 108.59, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The company’s 50 day moving average price is $382.71 and its two-hundred day moving average price is $284.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Finally, Evercore ISI raised their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $296.60.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last ninety days. 20.70% of the stock is owned by company 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.