Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Cut by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.4% in the first quarter, HoldingsChannel.com reports. The firm owned 2,532 shares of the electric vehicle producer’s stock after selling 863 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Tesla were worth $656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Tesla during the 4th quarter worth $14,420,248,000. FMR LLC boosted its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the transaction, the director now owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reduced their price objective on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Wedbush set a $500.00 target price on Tesla in a research report on Thursday, June 5th. Raymond James cut Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Finally, Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $293.67.

Tesla Trading Up 0.1%

Shares of NASDAQ:TSLA opened at $326.43 on Thursday. The company has a market cap of $1.05 trillion, a P/E ratio of 160.02, a P/E/G ratio of 5.86 and a beta of 2.47. The stock’s 50-day moving average is $295.60 and its 200-day moving average is $333.11. Tesla, Inc. has a 52-week low of $169.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the business posted $0.45 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company Profile

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.