Flagship Harbor Advisors LLC Purchases Shares of 48,280 Tesla, Inc. (NASDAQ:TSLA)

Flagship Harbor Advisors LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 48,280 shares of the electric vehicle producer’s stock, valued at approximately $12,632,000. Tesla makes up about 0.7% of Flagship Harbor Advisors LLC’s investment portfolio, making the stock its 26th biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kessler Investment Group LLC raised its position in Tesla by 11,203.1% in the third quarter. Kessler Investment Group LLC now owns 21,815 shares of the electric vehicle producer’s stock worth $5,707,000 after purchasing an additional 21,622 shares in the last quarter. Fortis Group Advisors LLC grew its stake in shares of Tesla by 6.0% in the 3rd quarter. Fortis Group Advisors LLC now owns 1,780 shares of the electric vehicle producer’s stock valued at $466,000 after purchasing an additional 101 shares during the period. Sweeney & Michel LLC raised its holdings in shares of Tesla by 32.3% in the 3rd quarter. Sweeney & Michel LLC now owns 2,118 shares of the electric vehicle producer’s stock worth $554,000 after buying an additional 517 shares in the last quarter. U S Global Investors Inc. bought a new position in shares of Tesla during the 3rd quarter worth approximately $2,451,000. Finally, Calton & Associates Inc. boosted its stake in Tesla by 40.9% in the 3rd quarter. Calton & Associates Inc. now owns 2,013 shares of the electric vehicle producer’s stock valued at $527,000 after buying an additional 584 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. TD Cowen increased their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. KGI Securities restated a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Jefferies Financial Group raised their price objective on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday. Finally, William Blair started coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $211.63.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related 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 value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last quarter. Company insiders own 25.10% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA traded down $3.10 on Tuesday, hitting $215.75. The company’s stock had a trading volume of 24,832,129 shares, compared to its average volume of 93,791,734. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The stock has a fifty day moving average of $228.09 and a two-hundred day moving average of $205.99. The firm has a market capitalization of $688.07 billion, a P/E ratio of 55.25, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. Research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

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.