Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 49.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 158,776 shares of the electric vehicle producer’s stock after purchasing an additional 52,273 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tesla were worth $64,120,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Tesla by 1.8% in the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares during the period. FMR LLC raised its stake in shares of Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after purchasing an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 13.7% during the third 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 purchasing an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after purchasing an additional 780,026 shares during the period. Finally, Amundi raised its stake in shares of Tesla by 1.2% during the fourth quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock valued at $5,117,345,000 after purchasing an additional 159,508 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $248.09 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $357.29 and its two-hundred day moving average price is $319.03. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market cap of $797.99 billion, a PE ratio of 121.61, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

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

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. Guggenheim dropped their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. dropped their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $325.81.

Tesla Company 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.