Carret Asset Management LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Carret Asset Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,432 shares of the electric vehicle producer’s stock after selling 225 shares during the period. Carret Asset Management LLC’s holdings in Tesla were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC purchased a new position in Tesla in the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new position in shares of Tesla during the 4th quarter worth about $25,000. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV lifted its holdings in shares of Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 69 shares during the period. Finally, Kathleen S. Wright Associates Inc. lifted its holdings in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $2.29 during midday trading on Thursday, reaching $164.42. 65,696,281 shares of the company traded hands, compared to its average volume of 102,502,992. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The stock has a 50-day moving average price of $176.28 and a 200 day moving average price of $208.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company has a market cap of $523.64 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 3.82 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.68%. The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein cut their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Tesla from a “buy” rating to a “hold” rating and dropped their target price for the stock from $189.00 to $123.00 in a research report on Thursday, April 18th. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday. Mizuho dropped their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $186.22.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last ninety days. 25.10% of the stock is currently owned by corporate insiders.

Tesla Company 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.