Tesla, Inc. (NASDAQ:TSLA) Holdings Increased by Carr Financial Group Corp

Carr Financial Group Corp increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.8% in the 1st quarter, HoldingsChannel reports. The fund owned 3,065 shares of the electric vehicle producer’s stock after acquiring an additional 141 shares during the period. Carr Financial Group Corp’s holdings in Tesla were worth $794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vista Finance LLC lifted its holdings in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after buying an additional 25 shares during the period. Vista Capital Partners Inc. raised its holdings in shares of Tesla by 1.4% in the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock worth $795,000 after purchasing an additional 27 shares in the last quarter. Blackston Financial Advisory Group LLC lifted its stake in Tesla by 1.3% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock valued at $875,000 after purchasing an additional 27 shares during the last quarter. Kooman & Associates increased its holdings in shares of Tesla by 2.4% in the fourth quarter. Kooman & Associates now owns 1,188 shares of the electric vehicle producer’s stock valued at $480,000 after buying an additional 28 shares in the last quarter. Finally, Rinkey Investments lifted its position in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after acquiring an additional 29 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,564 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the sale, the chief financial officer now directly owns 5,924 shares in the company, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wedbush set a $500.00 target price on Tesla in a research report on Thursday, June 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. The Goldman Sachs Group reduced their price target on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Finally, Royal Bank Of Canada lowered their price objective on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $293.67.

Tesla Stock Up 1.8%

TSLA opened at $322.05 on Friday. The business has a 50 day moving average of $304.81 and a 200-day moving average of $332.35. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 176.95, a P/E/G ratio of 12.04 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $179.66 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.