Tesla, Inc. (NASDAQ:TSLA) Stock Position Cut by Hartford Investment Management Co.

Hartford Investment Management Co. cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,629 shares of the electric vehicle producer's stock after selling 3,117 shares during the period. Tesla accounts for approximately 1.5% of Hartford Investment Management Co.'s portfolio, making the stock its 10th largest position. Hartford Investment Management Co.'s holdings in Tesla were worth $45,688,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer's stock valued at $108,638,000 after purchasing an additional 206,248 shares during the last quarter. Morse Asset Management Inc increased its holdings in shares of Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer's stock valued at $1,181,000 after acquiring an additional 3,462 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer's stock worth $46,858,000 after purchasing an additional 27,130 shares in the last quarter. Entropy Technologies LP bought a new stake in Tesla during the 1st quarter valued at about $1,941,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Tesla in the first quarter worth about $79,000. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated 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 $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the business's stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company's stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 in the last three months. 25.10% of the stock is owned by insiders.

Tesla Trading Down 0.0 %

NASDAQ:TSLA traded down $0.02 during mid-day trading on Wednesday, hitting $217.95. 6,126,188 shares of the stock traded hands, compared to its average volume of 93,457,211. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $695.09 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 6.31 and a beta of 2.29. The firm's 50 day moving average is $228.30 and its two-hundred day moving average is $206.36.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSLA. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. Piper Sandler raised their price target on shares of Tesla from $300.00 to $310.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Citigroup dropped their target price on shares of Tesla from $274.00 to $258.00 and set a "neutral" rating on the stock in a report on Wednesday, July 24th. Sanford C. Bernstein reiterated an "underperform" rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Finally, Wolfe Research started coverage on Tesla in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $211.63.

Tesla Company 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.

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