Brown Brothers Harriman & Co. Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Brown Brothers Harriman & Co. lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 14.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,553 shares of the electric vehicle producer’s stock after buying an additional 1,632 shares during the period. Brown Brothers Harriman & Co.’s holdings in Tesla were worth $3,284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank & Trust Co purchased a new position in shares of Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the second quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group boosted its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Guggenheim increased their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. Piper Sandler raised their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Wolfe Research began coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $231.06.

Tesla Stock Performance

NASDAQ TSLA opened at $338.59 on Tuesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The company has a market cap of $1.09 trillion, a P/E ratio of 92.76, a P/E/G ratio of 11.45 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The business’s 50 day moving average price is $266.31 and its 200-day moving average price is $227.97.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Tesla 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.