Carlson Capital Management Sells 3,156 Shares of Tesla, Inc. (NASDAQ:TSLA)

Carlson Capital Management cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,394 shares of the electric vehicle producer's stock after selling 3,156 shares during the period. Carlson Capital Management's holdings in Tesla were worth $2,196,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Street Partners LLC increased its stake in Tesla by 100.7% during the 3rd quarter. Principal Street Partners LLC now owns 9,028 shares of the electric vehicle producer's stock valued at $2,362,000 after purchasing an additional 4,529 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Tesla by 50.1% during the third quarter. Brooklyn Investment Group now owns 16,096 shares of the electric vehicle producer's stock valued at $4,211,000 after buying an additional 5,375 shares during the period. Quantbot Technologies LP bought a new position in shares of Tesla in the third quarter worth approximately $687,000. FMR LLC increased its position in shares of Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer's stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the last quarter. Finally, Elios Financial Group Inc. purchased a new stake in Tesla in the third quarter worth approximately $292,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TSLA shares. Jefferies Financial Group increased their price objective on Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a research note on Thursday, November 14th. Morgan Stanley reiterated an "overweight" rating and issued a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Royal Bank of Canada raised their price target on Tesla from $249.00 to $313.00 and gave the company an "outperform" rating in a report on Friday, November 15th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. Finally, William Blair started coverage on Tesla in a research report on Thursday, August 29th. They set an "outperform" rating on the stock. 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. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average target price of $231.06.

Tesla Stock Performance

Shares of Tesla stock traded down $0.36 during trading on Tuesday, hitting $338.23. 62,057,711 shares of the stock were exchanged, compared to its average volume of 95,651,484. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.67, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29. The company has a fifty day moving average price of $268.52 and a 200-day moving average price of $229.16. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating 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 net margin of 13.07% and a return on equity of 10.24%. Tesla's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 EPS. As a group, equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 in the last quarter. Insiders own 20.70% of the company's stock.

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.