Harfst & Associates Inc. Sells 485 Shares of Tesla, Inc. (NASDAQ:TSLA)

Harfst & Associates Inc. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,149 shares of the electric vehicle producer’s stock after selling 485 shares during the quarter. Harfst & Associates Inc.’s holdings in Tesla were worth $1,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Bank & Trust Co acquired a new stake in Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group increased its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.1 %

NASDAQ TSLA opened at $220.70 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The business has a fifty day moving average price of $227.67 and a 200 day moving average price of $205.39. The company has a market cap of $703.86 billion, a P/E ratio of 56.30, a P/E/G ratio of 5.94 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several research reports. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Barclays dropped their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Guggenheim raised their price target on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. Finally, Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Friday, October 11th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $210.72.

Insider Transactions at Tesla

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

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.