Carter Financial Group INC. Invests $1.47 Million in Tesla, Inc. $TSLA

Carter Financial Group INC. acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,617 shares of the electric vehicle producer’s stock, valued at approximately $1,467,000. Tesla makes up 1.0% of Carter Financial Group INC.’s investment portfolio, making the stock its 26th largest position.

Several other institutional investors and hedge funds also recently bought and sold shares of TSLA. Chapman Financial Group LLC purchased a new position in shares of Tesla during the 2nd quarter valued at about $26,000. Chelsea Counsel Co. raised its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. LGT Financial Advisors LLC purchased a new position in Tesla during the second quarter valued at approximately $29,000. CoreFirst Bank & Trust purchased a new position in Tesla during the second quarter valued at approximately $30,000. Finally, ESL Trust Services LLC boosted its position in shares of Tesla by 1,900.0% in the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 95 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 2.7%

TSLA stock opened at $458.96 on Monday. The firm has a fifty day moving average price of $435.52 and a 200 day moving average price of $376.42. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market cap of $1.53 trillion, a PE ratio of 305.97, a price-to-earnings-growth ratio of 15.50 and a beta of 1.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter last year, the business earned $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. Morgan Stanley set a $425.00 price objective on shares of Tesla and gave the company an “equal weight” rating in a research report on Sunday, December 7th. New Street Research increased their price target on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Glj Research restated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. BNP Paribas Exane initiated coverage on Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price on the stock. Finally, William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $399.33.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total value of $1,170,643.41. Following the sale, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.90% of the company’s stock.

Tesla 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.