Harbor Investment Advisory LLC Acquires 1,487 Shares of Tesla, Inc. $TSLA

Key Points

• Harbor Investment Advisory LLC increased its Tesla shares by 11.1%, acquiring an additional 1,487 shares, bringing their total holdings to 14,941 shares valued at approximately $4.75 million.
• Multiple hedge funds made significant changes to their TSLA positions in the first quarter, with Cherry Tree Wealth Management LLC and First PREMIER Bank increasing their stakes by over 79% and 86%, respectively.
• Tesla reported a decrease in revenue for the most recent quarter, totaling $22.50 billion, down 11.8% year-over-year, and missed earnings estimates with an EPS of $0.40 compared to the expected $0.43.

Harbor Investment Advisory LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,941 shares of the electric vehicle producer's stock after purchasing an additional 1,487 shares during the period. Harbor Investment Advisory LLC's holdings in Tesla were worth $4,746,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC raised its stake 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 worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank raised its stake in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC raised its stake in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Tesla in the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. raised its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSLA shares. HSBC restated a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Stifel Nicolaus set a $440.00 price objective on Tesla in a research note on Friday, September 5th. Canaccord Genuity Group boosted their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Bank of America boosted their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Mizuho decreased their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $303.00.

Tesla Stock Up 7.4%

Shares of NASDAQ TSLA opened at $395.94 on Friday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a PEG ratio of 12.87 and a beta of 2.06. The business has a 50-day moving average of $328.89 and a 200-day moving average of $303.48.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock valued at $51,999,662 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla 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.

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