Connor Clark & Lunn Investment Management Ltd. Acquires 42,052 Shares of Tesla, Inc. $TSLA

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 17.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 288,311 shares of the electric vehicle producer’s stock after purchasing an additional 42,052 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tesla were worth $128,218,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Relyea Zuckerberg Hanson LLC increased its position in Tesla by 0.4% in the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock valued at $2,916,000 after acquiring an additional 23 shares in the last quarter. Equita Financial Network Inc. lifted its position in shares of Tesla by 2.8% during the third quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock worth $380,000 after purchasing an additional 23 shares in the last quarter. VanderPol Investments L.L.C. lifted its position in shares of Tesla by 2.2% during the third quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock worth $464,000 after purchasing an additional 23 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Tesla by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock valued at $3,814,000 after purchasing an additional 23 shares during the last quarter. Finally, Cloud Capital Management LLC increased its holdings in shares of Tesla by 1.1% in the third quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock valued at $923,000 after purchasing an additional 23 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 2.1%

NASDAQ:TSLA opened at $407.79 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.16 and a quick ratio of 1.77. The business’s 50-day simple moving average is $422.01 and its 200-day simple moving average is $424.87. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $498.83. The stock has a market capitalization of $1.53 trillion, a PE ratio of 377.58, a price-to-earnings-growth ratio of 11.81 and a beta of 1.89.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The business had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $24.75 billion. During the same period in the prior year, the business earned $0.73 EPS. Tesla’s revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TSLA shares. New Street Research upped their price objective on Tesla from $520.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Tesla in a research report on Thursday, January 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $405.00 price target on shares of Tesla in a report on Thursday, January 29th. DZ Bank reissued a “sell” rating on shares of Tesla in a report on Thursday, January 29th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research report on Thursday, January 29th. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $406.84.

Check Out Our Latest Stock Report on TSLA

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 25,731 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $415.56, for a total value of $10,692,774.36. Following the completion of the transaction, the director directly owned 19,669 shares of the company’s stock, valued at approximately $8,173,649.64. This represents a 56.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the sale, the director directly owned 577,031 shares in the company, valued at $257,009,607.40. This represents a 9.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 87,995 shares of company stock valued at $38,315,650 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

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Tesla Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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