Everett Harris & Co. CA Sells 490 Shares of Tesla, Inc. (NASDAQ:TSLA)

Everett Harris & Co. CA reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,480 shares of the electric vehicle producer’s stock after selling 490 shares during the period. Everett Harris & Co. CA’s holdings in Tesla were worth $436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth $7,844,757,000. International Assets Investment Management LLC boosted its position in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. Morgan Stanley lifted its stake in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research report on Monday, April 22nd. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research report on Friday. Royal Bank of Canada cut their price target on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Seven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $192.71.

Tesla Stock Performance

NASDAQ TSLA opened at $245.83 on Friday. The company has a market capitalization of $784.00 billion, a PE ratio of 62.85, a price-to-earnings-growth ratio of 6.11 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a 50-day simple moving average of $184.10 and a 200 day simple moving average of $191.70.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. On average, research analysts predict that Tesla, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

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.