Carnegie Capital Asset Management LLC Takes Position in Tesla Inc (NASDAQ:TSLA)

Carnegie Capital Asset Management LLC acquired a new stake in shares of Tesla Inc (NASDAQ:TSLA) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 596 shares of the electric vehicle producer’s stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFG Advisory LLC bought a new position in shares of Tesla during the fourth quarter valued at approximately $208,000. Citizens Financial Group Inc RI lifted its position in Tesla by 253.3% during the fourth quarter. Citizens Financial Group Inc RI now owns 325 shares of the electric vehicle producer’s stock valued at $136,000 after acquiring an additional 233 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Tesla by 225.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 25,700 shares of the electric vehicle producer’s stock valued at $10,751,000 after acquiring an additional 17,800 shares during the last quarter. Macquarie Group Ltd. lifted its position in Tesla by 401.5% during the fourth quarter. Macquarie Group Ltd. now owns 15,587 shares of the electric vehicle producer’s stock valued at $6,521,000 after acquiring an additional 12,479 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its position in Tesla by 1.6% during the first quarter. CENTRAL TRUST Co now owns 900 shares of the electric vehicle producer’s stock valued at $472,000 after acquiring an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 52.08% of the company’s stock.

A number of equities research analysts recently commented on the stock. Nord/LB reissued a “sell” rating and set a $350.00 target price on shares of Tesla in a research report on Friday, April 3rd. Jefferies Financial Group set a $650.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Monday, April 6th. Robert W. Baird reissued a “hold” rating and set a $525.00 target price on shares of Tesla in a research report on Friday, April 24th. UBS Group raised shares of Tesla from a “sell” rating to a “neutral” rating and decreased their target price for the company from $420.00 to $410.00 in a research report on Tuesday, March 24th. Finally, Royal Bank of Canada increased their target price on shares of Tesla from $380.00 to $615.00 and gave the company an “underperform” rating in a research report on Thursday, April 30th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $559.74.

NASDAQ:TSLA opened at $816.88 on Friday. The firm has a market capitalization of $153.41 billion, a P/E ratio of -917.84 and a beta of 1.15. Tesla Inc has a 1-year low of $176.99 and a 1-year high of $968.99. The company’s fifty day moving average price is $706.72 and its 200-day moving average price is $562.53. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.24 and a quick ratio of 0.87.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, April 29th. The electric vehicle producer reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $1.60. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.85 billion. Tesla had a negative net margin of 0.55% and a negative return on equity of 1.86%. The firm’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the business earned ($2.90) earnings per share. Equities analysts anticipate that Tesla Inc will post -0.01 EPS for the current fiscal year.

In related news, SVP Andrew D. Baglino sold 300 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $623.63, for a total transaction of $187,089.00. Following the sale, the senior vice president now owns 4,445 shares in the company, valued at $2,772,035.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Zachary Kirkhorn sold 150 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $440.01, for a total transaction of $66,001.50. Following the sale, the chief financial officer now owns 11,432 shares in the company, valued at approximately $5,030,194.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,725 shares of company stock worth $4,575,306. 24.40% of the stock is owned by company insiders.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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