Harbour Trust & Investment Management Co Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Harbour Trust & Investment Management Co purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 859 shares of the electric vehicle producer’s stock, valued at approximately $225,000.

Other institutional investors have also recently made changes to their positions in the company. Nicholson Wealth Management Group LLC bought a new stake in Tesla in the third quarter worth about $371,000. DT Investment Partners LLC lifted its stake in Tesla by 29.4% in the third quarter. DT Investment Partners LLC now owns 1,505 shares of the electric vehicle producer’s stock worth $394,000 after purchasing an additional 342 shares during the last quarter. HT Partners LLC bought a new stake in Tesla in the third quarter worth about $272,000. Global Trust Asset Management LLC lifted its stake in Tesla by 208.0% in the third quarter. Global Trust Asset Management LLC now owns 4,146 shares of the electric vehicle producer’s stock worth $1,085,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Tesla by 85.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,861,829 shares of the electric vehicle producer’s stock worth $487,110,000 after purchasing an additional 856,862 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSLA. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Thursday. Piper Sandler raised their price objective on shares of Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Argus reaffirmed a “buy” rating and set a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. TD Cowen raised their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, HSBC reaffirmed a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $218.18.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 21.9 %

NASDAQ:TSLA opened at $260.48 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The firm has a fifty day simple moving average of $228.54 and a 200-day simple moving average of $206.41. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $832.14 billion, a P/E ratio of 73.17, a PEG ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share 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.