Harbor Investment Advisory LLC Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Harbor Investment Advisory LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,454 shares of the electric vehicle producer’s stock after selling 639 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Tesla were worth $3,487,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Tesla in the 4th quarter worth $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC boosted its stake in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 866,393 shares of company stock worth $284,570,654. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Down 2.6%

Shares of Tesla stock opened at $349.09 on Monday. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a market cap of $1.12 trillion, a P/E ratio of 171.12, a P/E/G ratio of 5.86 and a beta of 2.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $286.92 and a 200 day moving average price of $334.13.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the company earned $0.45 earnings per share. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Robert W. Baird reduced their price objective on Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Barclays decreased their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Finally, Wedbush reissued an “outperform” rating and set a $500.00 target price (up previously from $350.00) on shares of Tesla in a research note on Friday, May 23rd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $293.97.

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.