Harbor Group Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Harbor Group Inc. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 549 shares of the electric vehicle producer’s stock, valued at approximately $222,000.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Ullmann Wealth Partners Group LLC increased its stake in shares of Tesla by 11.6% during the 4th quarter. Ullmann Wealth Partners Group LLC now owns 2,746 shares of the electric vehicle producer’s stock valued at $1,109,000 after acquiring an additional 286 shares during the last quarter. Cypress Wealth Services LLC grew its holdings in Tesla by 3.9% in the fourth quarter. Cypress Wealth Services LLC now owns 11,292 shares of the electric vehicle producer’s stock valued at $4,560,000 after purchasing an additional 427 shares during the period. Congress Park Capital LLC acquired a new position in Tesla during the fourth quarter worth approximately $231,000. Capital Advisors Wealth Management LLC raised its stake in Tesla by 13.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 2,626 shares of the electric vehicle producer’s stock worth $1,060,000 after purchasing an additional 307 shares during the period. Finally, Omega Financial Group LLC acquired a new position in shares of Tesla in the 4th quarter valued at $375,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TSLA. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Truist Financial restated a “hold” rating and issued a $360.00 price objective on shares of Tesla in a report on Thursday, January 2nd. Wells Fargo & Company boosted their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $299.33.

Tesla Stock Up 3.1 %

TSLA stock opened at $426.50 on Friday. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a fifty day moving average price of $387.84 and a two-hundred day moving average price of $286.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 1.99 EPS for the current 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.