Canton Hathaway LLC Has $1.23 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Canton Hathaway LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 26.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,690 shares of the electric vehicle producer’s stock after purchasing an additional 975 shares during the quarter. Canton Hathaway LLC’s holdings in Tesla were worth $1,227,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Bank & Trust Co acquired a new position in shares of Tesla in the second quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% in 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. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter worth about $29,000. Finally, Clean Yield Group lifted its holdings in shares of 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 buying an additional 48 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Stifel Nicolaus raised their price objective on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Truist Financial boosted their price target on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Finally, Guggenheim increased their price objective on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $230.18.

Tesla Price Performance

Shares of Tesla stock opened at $359.70 on Monday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $1.15 trillion, a P/E ratio of 96.59, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29. The firm’s 50-day simple moving average is $264.07 and its 200-day simple moving average is $226.79.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. As a group, research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock worth $92,956,692 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.