Tesla, Inc. (NASDAQ:TSLA) Stake Reduced by Carret Asset Management LLC

Carret Asset Management LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,019 shares of the electric vehicle producer’s stock after selling 71 shares during the quarter. Carret Asset Management LLC’s holdings in Tesla were worth $267,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Goldstein Advisors LLC bought a new stake in Tesla in the 3rd quarter valued at about $236,000. Frank Rimerman Advisors LLC increased its stake in shares of Tesla by 8.6% in the third quarter. Frank Rimerman Advisors LLC now owns 34,129 shares of the electric vehicle producer’s stock valued at $8,929,000 after purchasing an additional 2,702 shares during the period. TCV Trust & Wealth Management Inc. bought a new stake in shares of Tesla during the third quarter valued at approximately $272,000. Clear Harbor Asset Management LLC boosted its position in shares of Tesla by 5.6% during the third quarter. Clear Harbor Asset Management LLC now owns 7,568 shares of the electric vehicle producer’s stock worth $1,980,000 after buying an additional 398 shares during the period. Finally, Bristlecone Advisors LLC grew its holdings in Tesla by 111.1% in the 3rd quarter. Bristlecone Advisors LLC now owns 26,856 shares of the electric vehicle producer’s stock worth $7,026,000 after buying an additional 14,135 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TSLA shares. Stifel Nicolaus lifted their target price on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday. Barclays reduced their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Argus restated a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Guggenheim upped their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research note on Thursday. Finally, TD Cowen raised their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Eight research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $219.00.

Tesla Trading Up 3.3 %

NASDAQ:TSLA opened at $269.19 on Monday. The stock has a market cap of $864.12 billion, a PE ratio of 73.75, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. 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 moving average is $230.53 and its two-hundred day moving average is $207.92.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by corporate insiders.

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.