Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,432 shares of the electric vehicle producer’s stock after selling 225 shares during the period. Carret Asset Management LLC’s holdings in Tesla were worth $356,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TSLA. Wynn Capital LLC purchased a new stake in Tesla in the 4th quarter worth approximately $5,622,000. BKA Wealth Consulting Inc. grew its stake in Tesla by 3.7% in the 4th quarter. BKA Wealth Consulting Inc. now owns 1,671 shares of the electric vehicle producer’s stock worth $415,000 after acquiring an additional 60 shares during the period. Bfsg LLC grew its stake in shares of Tesla by 0.6% during the 4th quarter. Bfsg LLC now owns 10,272 shares of the electric vehicle producer’s stock valued at $2,552,000 after buying an additional 62 shares during the period. Acas LLC grew its stake in shares of Tesla by 7.2% during the 4th quarter. Acas LLC now owns 1,040 shares of the electric vehicle producer’s stock valued at $258,000 after buying an additional 70 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Tesla by 9.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 46,373 shares of the electric vehicle producer’s stock valued at $11,517,000 after buying an additional 3,964 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA traded up $2.29 on Thursday, hitting $164.42. 65,696,281 shares of the company’s stock were exchanged, compared to its average volume of 102,502,992. The stock has a fifty day moving average of $176.28 and a two-hundred day moving average of $208.91. The firm has a market cap of $523.64 billion, a PE ratio of 42.19, a P/E/G ratio of 3.82 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 13.68% and a net margin of 14.37%. The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the firm posted $1.07 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last three months. Insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. Redburn Atlantic initiated coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective for the company. Canaccord Genuity Group lowered their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Citigroup boosted their price objective on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $186.22.

Tesla Company 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.