Oriental Harbor Investment Fund Makes New $63.01 Million Investment in Tesla, Inc. $TSLA

Oriental Harbor Investment Fund purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 198,271 shares of the electric vehicle producer's stock, valued at approximately $63,013,000. Tesla accounts for 3.9% of Oriental Harbor Investment Fund's investment portfolio, making the stock its 9th biggest position.

Other hedge funds have also modified their holdings of the company. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter worth $27,000. Finally, Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of Tesla in a research report on Saturday, September 27th. Wedbush upped their price target on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Bank of America upped their price target on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Canaccord Genuity Group upped their price target on shares of Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $343.43.

Tesla Stock Down 1.4%

Shares of Tesla stock opened at $429.83 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm's 50-day moving average is $364.02 and its two-hundred day moving average is $321.99. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a PEG ratio of 14.93 and a beta of 2.08.

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

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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