Harbour Trust & Investment Management Co Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

Harbour Trust & Investment Management Co bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 859 shares of the electric vehicle producer’s stock, valued at approximately $225,000.

Other large investors also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc raised its position in Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after purchasing an additional 3,462 shares during the period. NewEdge Advisors LLC grew its holdings in Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares during the last quarter. Entropy Technologies LP bought a new stake in Tesla in the 1st quarter worth $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Tesla in the 1st quarter worth $79,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 21.9 %

Shares of TSLA stock opened at $260.48 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market capitalization of $832.14 billion, a PE ratio of 73.17, a PEG ratio of 6.24 and a beta of 2.29. The stock has a fifty day simple moving average of $228.54 and a two-hundred day simple moving average of $206.41.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated 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 directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday. Barclays lowered their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Royal Bank of Canada raised their target price on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research note on Thursday. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $218.18.

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.