Tesla, Inc. (NASDAQ:TSLA) Stake Lessened by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,395 shares of the electric vehicle producer's stock after selling 660 shares during the period. McKinley Carter Wealth Services Inc.'s holdings in Tesla were worth $1,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Clean Yield Group grew its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after buying an additional 48 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter worth $35,000. Finley Financial LLC purchased a new stake in shares of Tesla in the fourth quarter valued at $64,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer's stock valued at $56,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, January 30th. Cantor Fitzgerald restated a "neutral" rating and set a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Barclays increased their target price on Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 15th. Truist Financial lifted their price target on Tesla from $351.00 to $373.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Finally, Roth Capital raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $318.31.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 665,776 shares of company stock worth $239,468,052. 20.70% of the stock is currently owned by insiders.

Tesla Stock Down 3.6 %

NASDAQ TSLA traded down $14.04 during trading hours on Wednesday, reaching $378.17. 57,076,100 shares of the company traded hands, compared to its average volume of 74,715,766. The stock has a market capitalization of $1.22 trillion, a PE ratio of 185.38, a PEG ratio of 6.79 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a 50 day moving average of $406.20 and a two-hundred day moving average of $301.73.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts expect that Tesla, Inc. will post 2.82 earnings per share for the current year.

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.