Bay Harbor Wealth Management LLC Has $336,000 Holdings in Tesla, Inc. $TSLA

Bay Harbor Wealth Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,059 shares of the electric vehicle producer’s stock after purchasing an additional 55 shares during the period. Bay Harbor Wealth Management LLC’s holdings in Tesla were worth $336,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank boosted its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the 1st quarter valued at $27,000. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. lifted its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wedbush increased their price target on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. Mizuho increased their target price on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. JPMorgan Chase & Co. raised their target price on Tesla from $115.00 to $150.00 in a research report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a research report on Saturday, September 27th. Finally, UBS Group reissued a “sell” rating and set a $215.00 price objective on shares of Tesla in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $343.43.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,606 shares of company stock worth $76,188,902. 19.90% of the stock is currently owned by company insiders.

Tesla Price Performance

TSLA opened at $429.83 on Monday. The company has a fifty day moving average price of $364.02 and a two-hundred day moving average price of $322.58. The firm has a market capitalization of $1.43 trillion, a PE ratio of 248.46, a P/E/G ratio of 14.93 and a beta of 2.08. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.