Carret Asset Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 209.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,578 shares of the electric vehicle producer’s stock after purchasing an additional 3,099 shares during the quarter. Carret Asset Management LLC’s holdings in Tesla were worth $1,214,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Axiom Financial Strategies LLC raised its position in Tesla by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after buying an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after purchasing an additional 164,789 shares during the period. MAS Advisors LLC grew its stake in Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after purchasing an additional 81 shares during the period. Aaron Wealth Advisors LLC grew its stake in Tesla by 116,334.1% in the 1st quarter. Aaron Wealth Advisors LLC now owns 752,164 shares of the electric vehicle producer’s stock valued at $698,000 after purchasing an additional 751,518 shares during the period. Finally, Keebeck Alpha LP bought a new position in Tesla in the 1st quarter valued at $279,000. 43.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
TSLA has been the subject of a number of recent analyst reports. TheStreet downgraded Tesla from a “b-” rating to a “c+” rating in a research note on Tuesday, November 1st. Loop Capital increased their price target on Tesla to $33.33 in a research note on Monday, August 22nd. Wells Fargo & Company cut their price target on Tesla from $280.00 to $230.00 and set an “equal weight” rating for the company in a research note on Friday, October 14th. Daiwa Capital Markets cut their price target on Tesla to $240.00 in a research note on Thursday, October 27th. Finally, Cowen cut their price target on Tesla from $244.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 20th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $264.91.
Insider Transactions at Tesla
In other news, SVP Andrew D. Baglino sold 1,312 shares of Tesla stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total value of $233,627.84. Following the sale, the senior vice president now directly owns 64,259 shares in the company, valued at approximately $11,442,600.13. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Andrew D. Baglino sold 1,312 shares of Tesla stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total transaction of $233,627.84. Following the sale, the senior vice president now directly owns 64,259 shares in the company, valued at $11,442,600.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Elon Musk sold 9,650,000 shares of Tesla stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $208.58, for a total value of $2,012,797,000.00. Following the sale, the chief executive officer now owns 455,467,432 shares in the company, valued at $95,001,396,966.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,172,831 shares of company stock worth $4,494,844,908. 25.10% of the stock is currently owned by insiders.
Tesla Price Performance
Shares of TSLA stock opened at $157.67 on Friday. The firm has a market cap of $497.88 billion, a P/E ratio of 48.71, a P/E/G ratio of 1.58 and a beta of 1.91. Tesla, Inc. has a fifty-two week low of $153.28 and a fifty-two week high of $402.67. The business’s 50 day moving average price is $197.00 and its 200-day moving average price is $241.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.46.
Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings data on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The firm had revenue of $21.45 billion for the quarter, compared to analyst estimates of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The business’s quarterly revenue was up 55.9% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 3.61 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.
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