Carr Financial Group Corp Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Carr Financial Group Corp cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 37.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,738 shares of the electric vehicle producer's stock after selling 1,642 shares during the quarter. Carr Financial Group Corp's holdings in Tesla were worth $716,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer's stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC increased 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 buying an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC increased its position in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC increased its position in shares of Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer's stock worth $1,051,613,000 after purchasing an additional 135,966 shares during the period. Finally, National Pension Service boosted its stake in Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer's stock valued at $1,355,939,000 after buying an additional 688,717 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. KGI Securities raised Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their target price on Tesla from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Barclays lifted their target price on Tesla from $220.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Finally, Stifel Nicolaus lifted their target price on Tesla from $265.00 to $287.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $222.03.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company's stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock worth $19,211,821 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

NASDAQ TSLA traded up $24.31 during trading on Friday, reaching $321.22. The company's stock had a trading volume of 204,782,763 shares, compared to its average volume of 88,324,920. The stock has a market capitalization of $1.03 trillion, a PE ratio of 88.01, a P/E/G ratio of 10.59 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a fifty day moving average of $241.18 and a 200 day moving average of $215.39. Tesla, Inc. has a one year low of $138.80 and a one year high of $328.71.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Analysts expect that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

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.