McKinley Carter Wealth Services Inc. Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

McKinley Carter Wealth Services Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 1,083.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,931 shares of the electric vehicle producer’s stock after buying an additional 11,838 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Tesla were worth $3,430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Axiom Financial Strategies LLC increased its stake in shares of Tesla by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after purchasing an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Tesla by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after purchasing an additional 164,789 shares in the last quarter. MAS Advisors LLC increased its stake in shares of Tesla by 25.7% during the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after purchasing an additional 81 shares in the last quarter. Ergoteles LLC increased its stake in shares of Tesla by 33.4% during the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after purchasing an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after purchasing an additional 4,593 shares in the last quarter. 43.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TSLA shares. Daiwa Capital Markets dropped their price objective on shares of Tesla from $240.00 to $177.00 and set an “outperform” rating for the company in a research note on Tuesday, December 20th. Royal Bank of Canada decreased their target price on shares of Tesla from $225.00 to $186.00 in a research report on Tuesday, January 3rd. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $150.00 to $125.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 3rd. Global Equities Research restated a “buy” rating on shares of Tesla in a research report on Tuesday, November 8th. Finally, Robert W. Baird decreased their target price on shares of Tesla from $316.00 to $252.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 28th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $236.14.

Insider Transactions at Tesla

In other news, CFO Zachary Kirkhorn sold 3,752 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the completion of the sale, the chief financial officer now owns 200,411 shares of the company’s stock, valued at approximately $21,906,926.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 1,312 shares of the business’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total value of $233,627.84. Following the completion of the sale, the senior vice president now owns 64,259 shares of the company’s stock, valued at approximately $11,442,600.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Kirkhorn sold 3,752 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the sale, the chief financial officer now directly owns 200,411 shares of the company’s stock, valued at approximately $21,906,926.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,172,833 shares of company stock valued at $4,492,567,309. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $113.06 on Friday. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $384.29. The company has a market capitalization of $357.02 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 0.81 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.46 and a quick ratio of 1.04. The firm’s fifty day moving average price is $166.62 and its 200 day moving average price is $229.52.

Tesla (NASDAQ:TSLA – Get Rating) last released its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The firm had revenue of $21.45 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 55.9% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 3.6 EPS for the current fiscal year.

About Tesla

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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.