Clifford Swan Investment Counsel LLC Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Clifford Swan Investment Counsel LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 56.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,401 shares of the electric vehicle producer's stock after purchasing an additional 2,319 shares during the period. Clifford Swan Investment Counsel LLC's holdings in Tesla were worth $1,659,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla during the 4th quarter valued at approximately $56,600,000. Means Investment CO. Inc. raised its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. lifted its holdings in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after purchasing an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla in the 4th quarter worth about $8,158,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $299.91.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 835,509 shares of company stock valued at $279,420,485. Insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $25.77 during midday trading on Thursday, reaching $306.79. The company had a trading volume of 132,036,984 shares, compared to its average volume of 107,996,695. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The business's 50-day simple moving average is $326.13 and its 200 day simple moving average is $315.92. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market cap of $988.17 billion, a P/E ratio of 168.72, a P/E/G ratio of 12.61 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the company earned $0.52 earnings per share. Tesla's revenue was down 11.8% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.