Carnegie Investment Counsel Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Carnegie Investment Counsel raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,630 shares of the electric vehicle producer’s stock after acquiring an additional 1,515 shares during the quarter. Carnegie Investment Counsel’s holdings in Tesla were worth $1,735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Bank & Trust Co purchased a new stake in Tesla during the 2nd quarter worth about $25,000. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. lifted its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.6 %

Shares of Tesla stock opened at $219.16 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a market cap of $698.94 billion, a P/E ratio of 55.91, a PEG ratio of 6.48 and a beta of 2.29. The company’s fifty day simple moving average is $225.84 and its two-hundred day simple moving average is $204.27.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the 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 completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction 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 approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 over the last ninety days. 25.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Mizuho lifted their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $230.00 price objective on shares of Tesla in a research report on Friday. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Finally, Argus reissued a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $210.72.

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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.