Tesla, Inc. (NASDAQ:TSLA) Stock Position Lifted by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,487 shares of the electric vehicle producer’s stock after purchasing an additional 416 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Tesla were worth $1,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wyrmwood Management LLC acquired a new position in shares of Tesla during the fourth quarter valued at approximately $25,000. Alpha Paradigm Partners LLC acquired a new position in shares of Tesla during the 3rd quarter valued at $27,000. Perkins Coie Trust Co raised its stake in shares of Tesla by 72.0% in the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 54 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. Finally, Ogorek Anthony Joseph NY ADV boosted its stake in Tesla by 94.5% during the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 5.6 %

Tesla stock opened at $161.48 on Tuesday. The company has a market capitalization of $514.28 billion, a P/E ratio of 37.47, a P/E/G ratio of 4.50 and a beta of 2.40. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The firm’s fifty day simple moving average is $181.44 and its 200-day simple moving average is $213.70. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. Tesla’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. Sell-side analysts forecast that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 over the last 90 days. 20.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a research report on Wednesday, April 3rd. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Canaccord Genuity Group cut their price objective on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. TD Cowen decreased their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Finally, China Renaissance initiated coverage on Tesla in a report on Monday, February 26th. They set a “hold” rating for the company. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $198.81.

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.