Flagship Harbor Advisors LLC Sells 4,946 Shares of Tesla, Inc. (NASDAQ:TSLA)

Flagship Harbor Advisors LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,334 shares of the electric vehicle producer’s stock after selling 4,946 shares during the quarter. Tesla comprises about 0.9% of Flagship Harbor Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Flagship Harbor Advisors LLC’s holdings in Tesla were worth $17,500,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC raised its position in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after acquiring an additional 301,968 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Friday, November 8th. The shares were sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $31,548,461.84. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 617,886 shares of company stock valued at $212,451,751. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $397.15 on Tuesday. 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 $1.27 trillion, a price-to-earnings ratio of 108.81, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The business has a fifty day moving average of $398.82 and a 200-day moving average of $294.47.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLA. Cantor Fitzgerald increased their price target on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $313.84.

Tesla Company 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.