Canton Hathaway LLC Has $735,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Canton Hathaway LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,715 shares of the electric vehicle producer’s stock after buying an additional 500 shares during the quarter. Canton Hathaway LLC’s holdings in Tesla were worth $735,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Integris Wealth Management LLC boosted its position in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Echo Wealth Management LLC increased its stake in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares during the last quarter. WASHINGTON TRUST Co lifted its position in Tesla by 3.2% during 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 in the last quarter. Keystone Wealth Services LLC boosted its stake in shares of Tesla by 0.8% during the 2nd quarter. Keystone Wealth Services LLC now owns 5,993 shares of the electric vehicle producer’s stock worth $1,186,000 after buying an additional 49 shares during the last quarter. Finally, West Paces Advisors Inc. grew its holdings in shares of Tesla by 5.9% in the 2nd quarter. West Paces Advisors Inc. now owns 901 shares of the electric vehicle producer’s stock valued at $178,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $1.62 during midday trading on Tuesday, reaching $221.10. The company had a trading volume of 73,511,953 shares, compared to its average volume of 99,012,086. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The company’s 50 day moving average price is $216.12 and its 200 day moving average price is $191.23. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market cap of $705.13 billion, a P/E ratio of 56.03, a P/E/G ratio of 5.22 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and set a $300.00 price target on shares of Tesla in a research report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, June 10th. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada lowered their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $204.21.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

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.