Carnegie Investment Counsel Acquires 1,515 Shares of Tesla, Inc. (NASDAQ:TSLA)

Carnegie Investment Counsel raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 29.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,630 shares of the electric vehicle producer’s stock after purchasing an additional 1,515 shares during the period. Carnegie Investment Counsel’s holdings in Tesla were worth $1,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TSLA. Clean Energy Transition LLP grew its stake in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. increased its stake in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 0.6 %

NASDAQ TSLA opened at $219.16 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The business has a 50 day moving average price of $225.84 and a 200-day moving average price of $204.27. The company has a market cap of $698.94 billion, a price-to-earnings ratio of 55.91, a P/E/G ratio of 6.48 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. As a group, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. TD Cowen upped their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday, September 26th. Robert W. Baird restated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Nine 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $210.72.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This 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. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, 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. In the last quarter, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is owned by corporate insiders.

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.