Canton Hathaway LLC Sells 230 Shares of Tesla, Inc. (NASDAQ:TSLA)

Canton Hathaway LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.9% in the fourth quarter, Holdings Channel reports. The firm owned 4,460 shares of the electric vehicle producer’s stock after selling 230 shares during the quarter. Canton Hathaway LLC’s holdings in Tesla were worth $1,801,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter worth $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the 3rd quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Tesla in the 4th quarter valued at about $46,000. PayPay Securities Corp lifted its stake in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its holdings in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $281.95 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $387.91 and its 200 day simple moving average is $315.28. The firm has a market capitalization of $906.90 billion, a PE ratio of 138.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Wednesday, February 12th. Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Finally, Canaccord Genuity Group lifted their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $319.57.

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.