Canton Hathaway LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Canton Hathaway LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,652 shares of the electric vehicle producer's stock after selling 808 shares during the period. Canton Hathaway LLC's holdings in Tesla were worth $946,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC lifted its holdings in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Newton One Investments LLC grew its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. Finally, Pflug Koory LLC boosted its position in Tesla by 370.4% in the first quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer's stock valued at $33,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 1,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now owns 1,950 shares of the company's stock, valued at approximately $682,500. This represents a 33.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were 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 now directly owns 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by company insiders.

Tesla Trading Up 0.0%

Shares of TSLA opened at $322.16 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The firm has a 50-day moving average price of $306.22 and a 200 day moving average price of $331.96. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 177.01, a P/E/G ratio of 12.05 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the company posted $0.45 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. HSBC decreased their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday, March 27th. Cantor Fitzgerald lowered their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Roth Mkm lowered their target price on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Benchmark reaffirmed a "buy" rating and set a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $293.67.

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.

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