Haverford Trust Co Purchases 615 Shares of Tesla, Inc. (NASDAQ:TSLA)

Haverford Trust Co lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 37.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,268 shares of the electric vehicle producer’s stock after acquiring an additional 615 shares during the quarter. Haverford Trust Co’s holdings in Tesla were worth $593,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. Integris Wealth Management LLC grew its stake in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc increased its stake in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the period. Echo Wealth Management LLC boosted its stake in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares during the period. Essex Savings Bank grew its holdings in shares of Tesla by 1.4% in the third quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock worth $818,000 after purchasing an additional 44 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its stake in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 7.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,797 shares of company stock valued at $57,616,781. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. HSBC restated a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Piper Sandler upped 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. Wedbush lifted their price target on Tesla from $300.00 to $400.00 and gave the company an “outperform” rating in a report on Monday. Finally, Glj Research reissued a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $228.24.

Tesla Stock Performance

NASDAQ TSLA opened at $311.18 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock’s 50 day simple moving average is $248.48 and its 200-day simple moving average is $218.94. The company has a market cap of $998.91 billion, a PE ratio of 85.25, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64.

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