Connor Clark & Lunn Investment Management Ltd. Purchases 79,158 Shares of Tesla, Inc. $TSLA

Connor Clark & Lunn Investment Management Ltd. lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 47.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 246,259 shares of the electric vehicle producer’s stock after buying an additional 79,158 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tesla were worth $78,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in Tesla during the 2nd quarter valued at about $29,000. Evergreen Private Wealth LLC raised its stake in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 81 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in Tesla in the first quarter worth about $36,000. Finally, Pacific Center for Financial Services grew its stake in shares of Tesla by 44.7% during the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $429.52 on Friday. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 286.35, a PEG ratio of 16.84 and a beta of 2.06. The stock has a 50-day simple moving average of $420.97 and a two-hundred day simple moving average of $355.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSLA. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Dbs Bank raised shares of Tesla to a “hold” rating in a report on Wednesday. Piper Sandler lifted their price objective on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research report on Thursday, October 23rd. Finally, Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $391.08.

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.