Tesla, Inc. (NASDAQ:TSLA) Stake Raised by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,228 shares of the electric vehicle producer’s stock after acquiring an additional 660 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Tesla were worth $3,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. World Investment Advisors LLC grew its stake in Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares in the last quarter. Destination Wealth Management grew its stake in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd grew its stake in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares in the last quarter. MML Investors Services LLC grew its stake in Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after acquiring an additional 1,741 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’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 value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 over the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $412.38 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The business has a 50-day simple moving average of $395.08 and a 200 day simple moving average of $292.13. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.98, a PEG ratio of 8.55 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Robert W. Baird boosted their price target on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Canaccord Genuity Group boosted their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Wedbush upped their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $309.48.

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.