Carnegie Investment Counsel Has $2.83 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Carnegie Investment Counsel lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.7% during the fourth quarter, HoldingsChannel reports. The firm owned 7,009 shares of the electric vehicle producer’s stock after buying an additional 379 shares during the quarter. Carnegie Investment Counsel’s holdings in Tesla were worth $2,831,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Acropolis Investment Management LLC raised its holdings in Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD lifted its position in Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after acquiring an additional 25 shares in the last quarter. Connable Office Inc. boosted its stake in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares during the period. Community Bank N.A. increased its holdings in Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after purchasing an additional 38 shares in the last quarter. Finally, Holistic Financial Partners lifted its holdings in shares of Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $299.33.

Tesla Price Performance

Shares of TSLA stock opened at $426.50 on Friday. The business has a fifty day simple moving average of $387.84 and a 200 day simple moving average of $286.58. The company has a market cap of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 1.99 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.