Carret Asset Management LLC Has $231,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Carret Asset Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 892 shares of the electric vehicle producer’s stock after selling 145 shares during the period. Carret Asset Management LLC’s holdings in Tesla were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the period. Newton One Investments LLC boosted its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the period. True Wealth Design LLC boosted its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the period. Finally, Pflug Koory LLC boosted its position in Tesla by 370.4% during the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA stock opened at $322.16 on Friday. The firm has a market capitalization of $1.04 trillion, a PE ratio of 177.01, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. The firm has a fifty day simple moving average of $306.22 and a two-hundred day simple moving average of $332.14. 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 12 month low of $180.69 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly 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). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the firm posted $0.45 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Argus reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Wells Fargo & Company cut their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, UBS Group dropped their price target on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $293.67.

Insiders Place Their Bets

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

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.