Carnegie Capital Asset Management LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Carnegie Capital Asset Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,487 shares of the electric vehicle producer’s stock after buying an additional 416 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Tesla were worth $1,860,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of TSLA. Wyrmwood Management LLC bought a new position in Tesla in the 4th quarter worth about $25,000. Alpha Paradigm Partners LLC purchased a new position in shares of Tesla during the third quarter worth about $27,000. MayTech Global Investments LLC bought a new position in shares of Tesla in the fourth quarter worth approximately $30,000. Perkins Coie Trust Co raised its stake in Tesla by 72.0% in the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 54 shares in the last quarter. Finally, Mendota Financial Group LLC lifted its position in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction 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 transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $161.48 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla, Inc. has a 1 year low of $152.37 and a 1 year high of $299.29. The firm has a 50-day moving average of $181.44 and a 200 day moving average of $213.70. The company has a market cap of $514.28 billion, a P/E ratio of 37.47, a PEG ratio of 4.50 and a beta of 2.40.

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

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. Truist Financial lowered their price objective on shares of Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Wedbush decreased their price objective on Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. The Goldman Sachs Group decreased their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a research note on Wednesday, March 27th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.