Tesla, Inc. $TSLA Holdings Reduced by Harbour Investments Inc.

Harbour Investments Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,539 shares of the electric vehicle producer’s stock after selling 4,642 shares during the period. Harbour Investments Inc.’s holdings in Tesla were worth $11,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bamco Inc. NY raised its stake in Tesla by 5.0% during the 2nd quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer’s stock worth $5,267,911,000 after acquiring an additional 591,243 shares in the last quarter. One Plus One Wealth Management LLC acquired a new position in Tesla in the second quarter valued at $1,009,000. Bessemer Group Inc. boosted its stake in Tesla by 23.6% in the first quarter. Bessemer Group Inc. now owns 56,240 shares of the electric vehicle producer’s stock valued at $20,908,000 after acquiring an additional 10,747 shares in the last quarter. H&H International Investment LLC acquired a new position in Tesla in the first quarter valued at $1,267,259,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Tesla by 12.4% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 43,600 shares of the electric vehicle producer’s stock worth $15,470,000 after purchasing an additional 4,806 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the transaction, the chief financial officer owned 25,972 shares in the company, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 20.00% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock traded down $7.23 during trading hours on Friday, hitting $390.22. 32,239,788 shares of the company were exchanged, compared to its average volume of 40,913,836. Tesla, Inc. has a 1 year low of $297.38 and a 1 year high of $498.83. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average of $374.75 and a 200-day moving average of $383.05. The stock has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 428.82, a P/E/G ratio of 24.62 and a beta of 1.74.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The firm had revenue of $28.05 billion during the quarter, compared to the consensus estimate of $28.06 billion. During the same period last year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 0.67 EPS for the current fiscal year.

Tesla News Roundup

These are some of the TSLA news items that stood out recently:

• Neutral Sentiment: Tesla’s robotaxi and autonomy plans remain a potential growth driver, but regulatory hurdles, costs and the challenge of building a profitable service leave execution uncertain. Article: Is Tesla Stock Worth Buying Now on Robotaxi and FSD Progress?
• Negative Sentiment: The potential merger faces political headwinds: Texas’ attorney general-elect has pledged “tremendous scrutiny,” and another report flags possible Democratic opposition. Added review could delay or complicate a deal. Article: Texas AG-elect vows scrutiny of SpaceX-Tesla merger
• Negative Sentiment: Tesla’s latest quarter showed flat year-over-year revenue, while SpaceX reportedly grew revenue 161%, raising questions about the relative growth and valuation of the businesses in a possible combination. GLJ Research also reaffirmed its sell rating. Article: Tesla and SpaceX Could Announce a Merger as Soon as December

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TSLA. Canaccord Genuity Group set a $442.00 target price on Tesla and gave the stock a “buy” rating in a research report on Thursday, October 22nd. TD Cowen initiated coverage on Tesla in a research report on Monday, October 26th. They issued a “hold” rating for the company. Monness Crespi & Hardt assumed coverage on Tesla in a research note on Monday, October 26th. They set a “buy” rating on the stock. Wells Fargo & Company restated a “buy” rating on shares of Tesla in a research note on Thursday, October 1st. Finally, Tigress Financial assumed coverage on Tesla in a research report on Thursday, October 22nd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Moderate Buy” and a consensus price target of $414.51.

Tesla Profile

Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.