Clear Harbor Asset Management LLC Sells 65 Shares of Tesla, Inc. (NASDAQ:TSLA)

Clear Harbor Asset Management LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,642 shares of the electric vehicle producer’s stock after selling 65 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Tesla were worth $1,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MidWestOne Financial Group Inc. boosted its position in shares of Tesla by 3.3% during 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 in the last quarter. City State Bank boosted its position in shares of Tesla by 3.3% during the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after purchasing an additional 40 shares in the last quarter. Marcum Wealth LLC boosted its position in shares of Tesla by 0.6% during the 3rd quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock worth $1,850,000 after purchasing an additional 41 shares in the last quarter. Investors Research Corp boosted its position in shares of Tesla by 5.5% during the 2nd quarter. Investors Research Corp now owns 801 shares of the electric vehicle producer’s stock worth $210,000 after purchasing an additional 42 shares in the last quarter. Finally, Opal Wealth Advisors LLC boosted its position in shares of Tesla by 1.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock valued at $36,952,434 in the last three months. Company insiders own 20.90% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA traded down $4.04 during trading hours on Thursday, hitting $175.79. The stock had a trading volume of 77,386,336 shares, compared to its average volume of 102,682,047. The company has a 50 day simple moving average of $187.78 and a two-hundred day simple moving average of $222.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The firm has a market capitalization of $559.85 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 4.01 and a beta of 2.41.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wedbush lowered their target price on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays lowered their target price on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a report on Thursday, January 25th. Citigroup lowered their target price on shares of Tesla from $224.00 to $196.00 and set a “neutral” rating on the stock in a report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $320.00 target price on shares of Tesla in a report on Wednesday. Finally, Wells Fargo & Company lowered shares of Tesla from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $200.00 to $125.00 in a report on Wednesday, March 13th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $204.63.

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.