Connors Investor Services Inc. Acquires 3,845 Shares of Tesla, Inc. $TSLA

Key Points

• Connors Investor Services Inc. increased its Tesla stake by 320.4% in the fourth quarter, buying 3,845 additional shares and bringing its total holdings to 5,045 shares worth about $2.27 million.
• Several other institutional investors also adjusted their positions, while 66.20% of Tesla’s stock remains owned by institutions overall.
• Tesla shares were up 2.0% to $426.01, and the company recently beat EPS expectations in its latest quarterly report, though revenue came in slightly below estimates and analysts currently rate the stock a Hold on average.

Connors Investor Services Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 320.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,045 shares of the electric vehicle producer's stock after buying an additional 3,845 shares during the quarter. Connors Investor Services Inc.'s holdings in Tesla were worth $2,267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Networth Advisors LLC bought a new stake in shares of Tesla in the 4th quarter valued at about $26,000. Davidson Capital Management Inc. raised its holdings in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 27 shares during the period. Turning Point Benefit Group Inc. bought a new stake in shares of Tesla in the 3rd quarter valued at about $30,000. Prism Advisors Inc. bought a new stake in shares of Tesla in the 4th quarter valued at about $30,000. Finally, Texas Capital Bancshares Inc TX bought a new stake in shares of Tesla in the 3rd quarter valued at about $31,000. 66.20% of the stock is owned by institutional investors.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Full Self-Driving rollout in China and subscription-based FSD availability in Europe bolster the case that autonomy could become a bigger growth driver. Article Title
• Positive Sentiment: Some analysts and commentators continue to frame Tesla as a robotics and AI company, with bullish chatter around Optimus and the company’s long-term pivot away from being just an automaker. Article Title
• Neutral Sentiment: SpaceX’s IPO has dominated investor attention, and while it highlights Musk’s ecosystem, the market is debating whether it will ultimately help Tesla or distract capital and attention away from TSLA. Article Title
• Negative Sentiment: Reuters reported Tesla is recalling 14,575 Model Y SUVs in the U.S. over a missing weight certification label, adding another quality-control issue to the stock’s recent concerns. Article Title
• Negative Sentiment: Several articles warn that Tesla’s valuation remains stretched and that FSD still faces execution questions, with critics saying the technology is not yet ready to justify the stock’s premium. Article Title

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 83,213 shares of company stock worth $32,201,105. 19.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. DZ Bank raised shares of Tesla from a "sell" rating to a "hold" rating and set a $385.00 target price on the stock in a report on Friday, April 24th. Tigress Financial assumed coverage on shares of Tesla in a report on Monday, April 27th. They issued a "buy" rating on the stock. Robert W. Baird dropped their target price on shares of Tesla from $538.00 to $522.00 and set an "outperform" rating on the stock in a report on Friday, April 24th. Jefferies Financial Group reaffirmed a "neutral" rating on shares of Tesla in a report on Wednesday, April 22nd. Finally, Roth Mkm reaffirmed a "buy" rating on shares of Tesla in a report on Thursday, April 23rd. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $395.20.

Tesla Stock Up 2.0%

Shares of TSLA opened at $426.01 on Friday. Tesla, Inc. has a 52 week low of $273.21 and a 52 week high of $498.83. The firm has a market cap of $1.60 trillion, a P/E ratio of 390.83, a price-to-earnings-growth ratio of 16.82 and a beta of 1.79. The firm's 50-day simple moving average is $387.76 and its 200 day simple moving average is $416.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter in the prior year, the business earned $0.27 EPS. Tesla's quarterly revenue was up 15.8% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 1.2 earnings per share for the current year.

Tesla Company Profile

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.