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

Harbour Trust & Investment Management Co cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 731 shares of the electric vehicle producer’s stock after selling 128 shares during the period. Harbour Trust & Investment Management Co’s holdings in Tesla were worth $295,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. MFA Wealth Advisors LLC grew its stake in shares of Tesla by 5.5% during the 4th quarter. MFA Wealth Advisors LLC now owns 8,764 shares of the electric vehicle producer’s stock valued at $3,539,000 after buying an additional 459 shares during the period. Canvas Wealth Advisors LLC boosted its position in Tesla by 2.8% during the 4th quarter. Canvas Wealth Advisors LLC now owns 27,362 shares of the electric vehicle producer’s stock worth $11,050,000 after purchasing an additional 736 shares during the period. RAM Investment Partners LLC boosted its position in Tesla by 23.2% during the 4th quarter. RAM Investment Partners LLC now owns 5,062 shares of the electric vehicle producer’s stock worth $2,044,000 after purchasing an additional 954 shares during the period. Angeles Wealth Management LLC boosted its position in Tesla by 6.9% during the 4th quarter. Angeles Wealth Management LLC now owns 9,399 shares of the electric vehicle producer’s stock worth $3,796,000 after purchasing an additional 605 shares during the period. Finally, Liberty Capital Management Inc. purchased a new stake in Tesla during the 4th quarter worth $290,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TSLA shares. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Piper Sandler upped their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group upped their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $326.50.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $355.94 on Friday. The firm’s 50 day moving average is $407.25 and its two-hundred day moving average is $306.44. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market capitalization of $1.14 trillion, a P/E ratio of 174.48, a PEG ratio of 6.22 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts anticipate that Tesla, Inc. will post 2.54 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.