Harbor Capital Advisors Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 60.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,602 shares of the electric vehicle producer’s stock after buying an additional 2,865 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Tesla were worth $1,990,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of TSLA. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla during the third quarter worth about $27,000. GW&K Investment Management LLC acquired a new stake in shares of Tesla during the first quarter worth about $30,000. St. Johns Investment Management Company LLC lifted its position in shares of Tesla by 451.9% during the first quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after purchasing an additional 122 shares in the last quarter. Worth Asset Management LLC acquired a new stake in shares of Tesla during the first quarter worth about $111,000. Finally, Magellan Asset Management Ltd acquired a new stake in shares of Tesla during the first quarter worth about $34,000. Institutional investors and hedge funds own 41.87% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Wedbush increased their price target on shares of Tesla from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. DZ Bank lowered shares of Tesla from a “buy” rating to a “sell” rating and set a $210.00 target price on the stock. in a research note on Friday, June 23rd. Royal Bank of Canada restated an “outperform” rating and set a $305.00 target price on shares of Tesla in a research note on Tuesday, September 12th. Mizuho upped their target price on shares of Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Finally, Truist Financial upped their target price on shares of Tesla from $240.00 to $254.00 and gave the stock a “hold” rating in a research note on Thursday, July 20th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $239.43.
Tesla Trading Down 0.8 %
NASDAQ:TSLA opened at $272.15 on Monday. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $313.80. The stock has a market cap of $863.80 billion, a price-to-earnings ratio of 77.73, a PEG ratio of 4.30 and a beta of 2.09. The business has a fifty day moving average of $255.83 and a 200-day moving average of $220.81. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The business had revenue of $24.93 billion during the quarter, compared to analysts’ expectations of $24.22 billion. During the same quarter last year, the business posted $0.65 earnings per share. The company’s quarterly revenue was up 47.2% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 2.94 earnings per share for the current year.
Insider Activity at Tesla
In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $242.53, for a total transaction of $2,546,565.00. Following the completion of the transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at $16,209,250.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $242.53, for a total value of $2,546,565.00. Following the completion of the transaction, the senior vice president now owns 66,834 shares in the company, valued at approximately $16,209,250.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, July 7th. The shares were sold at an average price of $278.36, for a total value of $1,113,440.00. Following the completion of the transaction, the chief accounting officer now owns 104,504 shares of the company’s stock, valued at approximately $29,089,733.44. The disclosure for this sale can be found here. Insiders sold 55,815 shares of company stock valued at $14,384,135 over the last 90 days. 25.10% of the stock is currently owned by corporate insiders.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.
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