Clear Harbor Asset Management LLC Has $1.98 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Clear Harbor Asset Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,568 shares of the electric vehicle producer’s stock after buying an additional 398 shares during the period. Clear Harbor Asset Management LLC’s holdings in Tesla were worth $1,980,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Tesla by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the last quarter. Morse Asset Management Inc lifted its stake in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after acquiring an additional 3,462 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares during the period. Entropy Technologies LP bought a new stake in Tesla in the first quarter valued at approximately $1,941,000. Finally, Symmetry Investments LP increased its position in Tesla by 326.6% during the 2nd quarter. Symmetry Investments LP now owns 8,536 shares of the electric vehicle producer’s stock valued at $1,689,000 after purchasing an additional 6,535 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TSLA shares. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price target on shares of Tesla in a report on Wednesday. Wells Fargo & Company boosted their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Citigroup decreased their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $219.00.

Tesla Stock Performance

Shares of TSLA stock opened at $269.19 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company has a market cap of $858.50 billion, a P/E ratio of 68.67, a P/E/G ratio of 6.24 and a beta of 2.29. The firm has a 50-day moving average of $230.53 and a 200-day moving average of $207.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

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.