Canton Hathaway LLC Buys 975 Shares of Tesla, Inc. (NASDAQ:TSLA)

Canton Hathaway LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 26.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,690 shares of the electric vehicle producer’s stock after acquiring an additional 975 shares during the period. Canton Hathaway LLC’s holdings in Tesla were worth $1,227,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter valued at $29,000. Bank & Trust Co acquired a new position in Tesla during the 2nd quarter valued at about $25,000. Clean Yield Group grew its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. Abich Financial Wealth Management LLC raised its stake in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter valued at approximately $26,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

NASDAQ:TSLA opened at $359.70 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $264.07 and a 200 day simple moving average of $226.79. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.53. The stock has a market capitalization of $1.15 trillion, a PE ratio of 96.59, a P/E/G ratio of 11.45 and a beta of 2.29.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays increased their target price on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada boosted their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $230.18.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s 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 owns 105,032 shares in the company, valued at $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by company insiders.

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.