Carret Asset Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 910 shares of the electric vehicle producer’s stock after selling 195 shares during the period. Carret Asset Management LLC’s holdings in Tesla were worth $981,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Wealth Alliance Advisory Group LLC acquired a new stake in Tesla during the 4th quarter valued at $293,000. Wealthsource Partners LLC acquired a new stake in Tesla during the 3rd quarter valued at $3,065,000. Financial Futures Ltd Liability Co. acquired a new stake in Tesla during the 4th quarter valued at $291,000. PGGM Investments acquired a new stake in Tesla during the 4th quarter valued at $12,596,000. Finally, Curi Wealth Management LLC bought a new position in Tesla during the 4th quarter valued at $98,000. 40.64% of the stock is owned by institutional investors.
TSLA has been the topic of a number of research analyst reports. Wedbush reduced their price objective on shares of Tesla from $1,400.00 to $1,000.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. Credit Suisse Group raised their price target on shares of Tesla from $1,025.00 to $1,125.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 19th. BNP Paribas reduced their price target on shares of Tesla from $700.00 to $600.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 18th. Jefferies Financial Group reduced their price target on shares of Tesla from $1,250.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Thursday, May 26th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $1,200.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $894.73.
Tesla (NASDAQ:TSLA – Get Rating) last announced its quarterly earnings results on Wednesday, April 20th. The electric vehicle producer reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $1.22. The firm had revenue of $18.76 billion for the quarter, compared to analyst estimates of $17.84 billion. Tesla had a net margin of 13.51% and a return on equity of 28.11%. The business’s revenue for the quarter was up 80.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. Equities research analysts anticipate that Tesla, Inc. will post 10.25 EPS for the current fiscal year.
In other news, CAO Vaibhav Taneja sold 1,300 shares of the business’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $1,141.94, for a total value of $1,484,522.00. Following the sale, the chief accounting officer now owns 25,985 shares in the company, valued at approximately $29,673,310.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $1,065.00, for a total transaction of $3,727,500.00. The disclosure for this sale can be found here. Insiders sold a total of 416,669 shares of company stock worth $369,312,309 in the last three months. Insiders own 25.00% of the company’s stock.
About Tesla (Get Rating)
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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