Hartford Funds Management Co LLC Has $113,000 Stock Position in Tesla, Inc. $TSLA

Hartford Funds Management Co LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 66.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 356 shares of the electric vehicle producer’s stock after selling 694 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Tesla were worth $113,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC bought a new stake in Tesla during the 1st quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after buying an additional 6,435,598 shares in the last quarter. Amundi grew its position in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on TSLA shares. BNP Paribas Exane initiated coverage on shares of Tesla in a research report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target on the stock. The Goldman Sachs Group dropped their price objective on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Roth Capital set a $505.00 price objective on Tesla and gave the stock a “buy” rating in a report on Thursday, October 23rd. Evercore ISI increased their price objective on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eleven have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $391.08.

Tesla Stock Down 3.7%

Shares of TSLA opened at $429.52 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The business’s 50 day simple moving average is $420.97 and its 200-day simple moving average is $356.28.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% 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.