Tesla, Inc. $TSLA Holdings Decreased by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. reduced its stake in Tesla by 12.0%, holding 23,346 shares valued at $7,416,000 after selling 3,169 shares in the second quarter.
• Out of various institutional investors, Brighton Jones LLC and Bison Wealth LLC both raised their stakes in Tesla, with increases of 11.8% and 52.2%, respectively, indicating strong interest in the stock.
• Wall Street analysts have varying opinions on Tesla's stock, with price targets ranging from $247.00 to $520.00, reflecting a consensus rating of "Hold" and an average target price of $363.03.

Harbour Investments Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,346 shares of the electric vehicle producer's stock after selling 3,169 shares during the quarter. Harbour Investments Inc.'s holdings in Tesla were worth $7,416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Brighton Jones LLC raised its stake in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC raised its stake in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after purchasing an additional 3,558 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Tesla by 6.0% during the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer's stock valued at $9,812,000 after purchasing an additional 2,153 shares in the last quarter. Finally, Vicus Capital raised its stake in shares of Tesla by 71.1% during the first quarter. Vicus Capital now owns 1,389 shares of the electric vehicle producer's stock valued at $360,000 after purchasing an additional 577 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TSLA shares. Bank of America boosted their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Evercore ISI boosted their price target on shares of Tesla from $235.00 to $300.00 and gave the stock an "in-line" rating in a research report on Monday. Melius Research set a $520.00 price target on shares of Tesla and gave the stock a "buy" rating in a research report on Monday. Mizuho boosted their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 23rd. Finally, UBS Group set a $247.00 price target on shares of Tesla in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $363.03.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company'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 completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company's stock.

Tesla Price Performance

NASDAQ TSLA opened at $435.15 on Thursday. The stock's 50-day moving average price is $383.21 and its two-hundred day moving average price is $330.90. 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 company has a market cap of $1.45 trillion, a PE ratio of 251.53, a PEG ratio of 15.47 and a beta of 2.08. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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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