Flagship Harbor Advisors LLC Sells 494 Shares of Tesla, Inc. (NASDAQ:TSLA)

Flagship Harbor Advisors LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,788 shares of the electric vehicle producer’s stock after selling 494 shares during the quarter. Tesla comprises about 1.2% of Flagship Harbor Advisors LLC’s holdings, making the stock its 12th biggest holding. Flagship Harbor Advisors LLC’s holdings in Tesla were worth $14,342,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MidWestOne Financial Group Inc. boosted its stake in Tesla by 3.3% in the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares during the period. Linscomb & Williams Inc. boosted its position in shares of Tesla by 3.5% during the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after acquiring an additional 42 shares during the last quarter. Indiana Trust & Investment Management CO boosted its position in shares of Tesla by 1.5% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,998 shares of the electric vehicle producer’s stock valued at $785,000 after acquiring an additional 45 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in shares of Tesla by 22.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock valued at $283,000 after acquiring an additional 48 shares during the last quarter. Finally, Johnson Bixby & Associates LLC boosted its position in shares of Tesla by 2.1% during the 1st quarter. Johnson Bixby & Associates LLC now owns 2,769 shares of the electric vehicle producer’s stock valued at $574,000 after acquiring an additional 56 shares during the last quarter. 41.87% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $274.39 on Monday. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $313.80. The stock’s 50-day moving average is $255.83 and its 200 day moving average is $220.81. The company has a market cap of $870.91 billion, a P/E ratio of 77.73, a PEG ratio of 4.30 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The company had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 47.2% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the sale, the senior vice president now owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total value of $2,552,865.00. Following the completion of the sale, the senior vice president now owns 66,834 shares of the company’s stock, valued at $16,249,350.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the sale, the senior vice president now directly owns 59,540 shares of the company’s stock, valued at approximately $14,862,374.80. The disclosure for this sale can be found here. Insiders have sold a total of 55,815 shares of company stock valued at $14,384,135 over the last quarter. 25.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on TSLA shares. Mizuho increased their target price on Tesla from $300.00 to $330.00 in a research report on Thursday, July 20th. Jefferies Financial Group increased their target price on Tesla from $185.00 to $265.00 and gave the company a “hold” rating in a research report on Monday, July 10th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating in a report on Monday, June 12th. Wells Fargo & Company increased their price target on Tesla from $170.00 to $265.00 and gave the company an “equal weight” rating in a report on Monday, July 17th. Finally, Barclays lowered Tesla from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $220.00 to $260.00 in a report on Wednesday, June 21st. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $239.43.

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. It 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, retail merchandise, and vehicle insurance services.