Tesla, Inc. $TSLA Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 2.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 164,408 shares of the electric vehicle producer’s stock after selling 4,637 shares during the quarter. Tesla comprises about 2.2% of Hartford Investment Management Co.’s portfolio, making the stock its 8th biggest holding. Hartford Investment Management Co.’s holdings in Tesla were worth $73,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Narwhal Capital Management raised its position in Tesla by 32.8% in the 3rd quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer’s stock valued at $4,232,000 after purchasing an additional 2,350 shares in the last quarter. Norges Bank purchased a new position in Tesla in the second quarter worth approximately $11,839,824,000. Police & Firemen s Retirement System of New Jersey grew its holdings in Tesla by 5.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock worth $135,688,000 after acquiring an additional 22,607 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of Tesla by 1,823.0% in the 2nd quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock valued at $21,704,000 after purchasing an additional 64,772 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in shares of Tesla by 20.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 16,565 shares of the electric vehicle producer’s stock worth $7,367,000 after purchasing an additional 2,765 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. CICC Research lifted their price target on Tesla from $450.00 to $500.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Bank of America upped their price target on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Piper Sandler reiterated an “overweight” rating on shares of Tesla in a research note on Thursday. President Capital dropped their target price on shares of Tesla from $517.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Industrial Alliance Securities set a $300.00 price target on shares of Tesla in a research report on Monday, October 13th. Seventeen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $403.92.

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Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the transaction, the director directly owned 577,031 shares in the company, valued at $257,009,607.40. This trade represents a 9.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 119,457 shares of company stock worth $53,501,145. 19.90% of the stock is currently owned by insiders.

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Tesla Trading Down 2.0%

Shares of Tesla stock opened at $421.81 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. The company has a market capitalization of $1.40 trillion, a P/E ratio of 390.56, a PEG ratio of 7.34 and a beta of 1.83. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $498.83. The company’s fifty day moving average is $447.77 and its two-hundred day moving average is $409.50.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The business had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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