Flagship Harbor Advisors LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Flagship Harbor Advisors LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 43,334 shares of the electric vehicle producer’s stock after selling 4,946 shares during the quarter. Tesla comprises approximately 0.9% of Flagship Harbor Advisors LLC’s 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 quarter.

A number of other hedge funds have also made changes to their positions in the business. Kathmere Capital Management LLC raised its stake in shares of Tesla by 5.9% during the second quarter. Kathmere Capital Management LLC now owns 1,247 shares of the electric vehicle producer’s stock valued at $247,000 after purchasing an additional 70 shares during the period. Ascent Group LLC grew its holdings in Tesla by 29.8% during the 2nd quarter. Ascent Group LLC now owns 12,854 shares of the electric vehicle producer’s stock valued at $2,544,000 after purchasing an additional 2,953 shares in the last quarter. Magnolia Capital Advisors LLC lifted its holdings in Tesla by 162.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 11,799 shares of the electric vehicle producer’s stock worth $2,335,000 after buying an additional 7,303 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Tesla by 1.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 249,279 shares of the electric vehicle producer’s stock valued at $49,327,000 after buying an additional 2,349 shares during the last quarter. Finally, Invst LLC grew its stake in shares of Tesla by 23.6% during the second quarter. Invst LLC now owns 6,188 shares of the electric vehicle producer’s stock valued at $1,299,000 after acquiring an additional 1,180 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 617,886 shares of company stock valued at $212,451,751. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSLA. Robert W. Baird lifted their price objective on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Guggenheim raised their price objective on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a report on Thursday, December 5th. Evercore ISI upped their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $313.84.

Tesla Stock Down 2.3 %

Tesla stock opened at $397.15 on Tuesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm’s fifty day simple moving average is $398.82 and its 200-day simple moving average is $294.47. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.27 trillion, a P/E ratio of 108.81, a P/E/G ratio of 8.42 and a beta of 2.30.

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.