Conning Inc. Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Conning Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,754 shares of the electric vehicle producer’s stock after selling 209 shares during the quarter. Conning Inc.’s holdings in Tesla were worth $4,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Morse Asset Management Inc boosted its holdings in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after buying an additional 3,462 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its holdings in shares of Tesla by 6.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock worth $11,349,000 after buying an additional 2,664 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock worth $1,087,000 after buying an additional 1,059 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after buying an additional 27,130 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction 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 directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,297 shares of company stock worth $3,065,866 over the last quarter. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. Barclays lifted their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Royal Bank of Canada lifted their price target on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. William Blair initiated coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $219.45.

Tesla Trading Down 0.3 %

TSLA stock opened at $248.98 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $273.54. The stock has a market capitalization of $799.24 billion, a price-to-earnings ratio of 68.21, a price-to-earnings-growth ratio of 8.24 and a beta of 2.29. The firm’s fifty day simple moving average is $234.14 and its two-hundred day simple moving average is $210.76.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the business posted $0.53 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.96 earnings per share for the current year.

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.