Image from MarketBeat Media, LLC. Key Points Kimbal Musk sold 56,820 Tesla shares on Dec. 9 at an average price of $450.66 for about $25.6M, trimming his stake by 3.92% to 1,391,615 shares (SEC filing). Tesla shares traded down ~1.0% to $446.83; the company recently beat quarterly EPS and revenue estimates ($0.50 vs. $0.48; $28.10B revenue) but carries a high P/E (~298) and a MarketBeat consensus rating of "Hold" with a $399.33 target. Market Momentum: 3 Stocks Poised for Major Breakouts Several institutional investors have recently added to or reduced their stakes in the business. Painted Porch Advisors LLC lifted its position in Tesla by 80.4% during the third quarter. Painted Porch Advisors LLC now owns 956 shares of the electric vehicle producer's stock valued at $425,000 after buying an additional 426 shares in the last quarter. MRP Capital Investments LLC raised its stake in shares of Tesla by 2.2% in the 3rd quarter. MRP Capital Investments LLC now owns 5,638 shares of the electric vehicle producer's stock valued at $2,507,000 after acquiring an additional 120 shares during the period. IFP Advisors Inc lifted its holdings in shares of Tesla by 4.3% during the 3rd quarter. IFP Advisors Inc now owns 22,630 shares of the electric vehicle producer's stock valued at $10,065,000 after acquiring an additional 926 shares in the last quarter. Swiss Life Asset Management Ltd boosted its position in Tesla by 7.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 862,544 shares of the electric vehicle producer's stock worth $383,591,000 after purchasing an additional 56,565 shares during the period. Finally, Steadtrust LLC acquired a new stake in Tesla in the 3rd quarter valued at $592,000. 66.20% of the stock is currently owned by institutional investors and hedge funds. Analyst Ratings Changes A number of research analysts have recently weighed in on the company. Canaccord Genuity Group dropped their price target on Tesla from $490.00 to $482.00 and set a "buy" rating for the company in a research report on Thursday, October 23rd. Piper Sandler restated an "overweight" rating and set a $500.00 target price on shares of Tesla in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Evercore ISI increased their price target on shares of Tesla from $235.00 to $300.00 and gave the company a "neutral" rating in a research report on Wednesday, October 29th. Finally, Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus target price of $399.33.