Harbour Investments Inc. Sells 4,642 Shares of Tesla, Inc. $TSLA

Key Points

• Harbour Investments cut its Tesla stake by 12.2% in the third quarter, selling 4,642 shares and ending the period with 33,539 shares valued at about $11.9 million.
• Tesla’s latest quarterly earnings were mixed: EPS of $0.48 beat estimates of $0.46, while revenue of $28.05 billion was slightly below forecasts and down 0.2% year over year.
• Analysts have a “Moderate Buy” consensus and an average price target of $414.51; Tesla shares were reported down 1.8% to $390.22.

Harbour Investments Inc. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 33,539 shares of the electric vehicle producer's stock after selling 4,642 shares during the period. Harbour Investments Inc.'s holdings in Tesla were worth $11,900,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Tesla by 2.4% during the 2nd quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer's stock worth $49,402,312,000 after purchasing an additional 2,761,298 shares during the period. Amundi increased its position in shares of Tesla by 14.0% during the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer's stock worth $8,243,513,000 after purchasing an additional 2,727,141 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Tesla during the 2nd quarter worth about $8,535,612,000. Bank of New York Mellon Corp purchased a new stake in Tesla in the 2nd quarter valued at about $6,083,630,000. Finally, Bamco Inc. NY raised its holdings in Tesla by 5.0% in the 2nd quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer's stock valued at $5,267,911,000 after buying an additional 591,243 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the sale, the chief financial officer owned 25,972 shares in the company, valued at $9,353,296.36. This represents a 9.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLA. Morgan Stanley raised shares of Tesla from a "reduce" rating to an "overweight" rating in a research report on Monday, October 26th. Stifel Nicolaus set a $475.00 price target on shares of Tesla in a research report on Thursday, October 22nd. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Friday. Robert W. Baird set a $475.00 price target on shares of Tesla in a research note on Monday, July 27th. Finally, BMO Capital Markets started coverage on shares of Tesla in a report on Monday, August 17th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $414.51.

Tesla Stock Down 1.8%

Shares of NASDAQ:TSLA traded down $7.23 during trading on Friday, hitting $390.22. The company's stock had a trading volume of 32,239,788 shares, compared to its average volume of 40,913,836. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83. The business has a 50 day moving average price of $374.75 and a two-hundred day moving average price of $383.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74. The company has a market capitalization of $1.54 trillion, a PE ratio of 428.82, a P/E/G ratio of 24.62 and a beta of 1.74.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $28.05 billion for the quarter, compared to analysts' expectations of $28.06 billion. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The company's revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 0.67 EPS for the current fiscal year.

Trending Headlines about Tesla

Here are a few of the latest headlines about TSLA:

• Positive Sentiment: Finland’s provisional approval of Tesla’s driver-assistance system adds momentum to its European FSD expansion and could support future software revenue, though broader EU approval is still pending. Article: Finland approves Tesla driver assistance system
• Neutral Sentiment: Tesla’s robotaxi and autonomy plans remain a potential growth driver, but regulatory hurdles, costs and the challenge of building a profitable service leave execution uncertain. Article: Is Tesla Stock Worth Buying Now on Robotaxi and FSD Progress?
• Negative Sentiment: The potential merger faces political headwinds: Texas’ attorney general-elect has pledged “tremendous scrutiny,” and another report flags possible Democratic opposition. Added review could delay or complicate a deal. Article: Texas AG-elect vows scrutiny of SpaceX-Tesla merger

About Tesla

Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.

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