Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Carlson Capital Management

Carlson Capital Management reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 27.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,394 shares of the electric vehicle producer’s stock after selling 3,156 shares during the quarter. Carlson Capital Management’s holdings in Tesla were worth $2,196,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the period. Clean Energy Transition LLP grew its position in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC raised 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 buying an additional 5,875,484 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after acquiring an additional 1,479,378 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after acquiring an additional 1,294,093 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 4.0 %

TSLA traded down $13.97 during mid-day trading on Tuesday, hitting $338.59. The stock had a trading volume of 95,890,899 shares, compared to its average volume of 95,798,258. The stock’s fifty day simple moving average is $266.31 and its 200-day simple moving average is $227.97. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.76, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on TSLA shares. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Wolfe Research assumed coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Canaccord Genuity Group increased their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group lifted their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $231.06.

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.