Hartford Investment Management Co. Has $73.12 Million Position in Tesla, Inc. $TSLA

Hartford Investment Management Co. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 2.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 164,408 shares of the electric vehicle producer’s stock after selling 4,637 shares during the period. Tesla accounts for 2.2% of Hartford Investment Management Co.’s holdings, making the stock its 8th biggest holding. Hartford Investment Management Co.’s holdings in Tesla were worth $73,116,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Relyea Zuckerberg Hanson LLC lifted its position in shares of Tesla by 0.4% during the third quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock valued at $2,916,000 after buying an additional 23 shares during the last quarter. Equita Financial Network Inc. raised its stake in shares of Tesla by 2.8% during the 3rd quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock worth $380,000 after acquiring an additional 23 shares in the last quarter. VanderPol Investments L.L.C. lifted its position in Tesla by 2.2% during the third quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock valued at $464,000 after acquiring an additional 23 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Tesla by 0.3% in the third quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock worth $3,814,000 after purchasing an additional 23 shares during the last quarter. Finally, Cloud Capital Management LLC grew its holdings in Tesla by 1.1% in the third quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock worth $923,000 after purchasing an additional 23 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSLA. Dbs Bank raised Tesla to a “hold” rating in a research report on Wednesday, November 5th. Bank of America raised their price target on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Benchmark restated a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of Tesla in a research report on Thursday. Finally, BNP Paribas Exane boosted their target price on shares of Tesla from $307.00 to $313.00 in a research report on Monday, December 1st. Seventeen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $403.92.

Check Out Our Latest Stock Report on Tesla

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Tesla Stock Performance

TSLA opened at $421.81 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $498.83. The firm has a 50 day moving average of $447.77 and a two-hundred day moving average of $409.50. The firm has a market capitalization of $1.40 trillion, a PE ratio of 390.56, a P/E/G ratio of 7.34 and a beta of 1.83.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The firm had revenue of $24.90 billion for the quarter, compared to analyst estimates of $24.75 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the transaction, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 119,457 shares of company stock worth $53,501,145. 19.90% of the stock is owned by corporate insiders.

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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