McLean Asset Management Corp Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

McLean Asset Management Corp increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 144.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,342 shares of the electric vehicle producer's stock after buying an additional 1,384 shares during the period. McLean Asset Management Corp's holdings in Tesla were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. True Wealth Design LLC boosted its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC bought a new stake in shares of Tesla in the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla in the fourth quarter valued at about $38,000. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Raymond James cut shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Piper Sandler set a $400.00 target price on shares of Tesla in a research report on Tuesday, May 6th. Roth Mkm reduced their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $293.97.

Insider Activity at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $7,242,273.50. This represents a 9.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 866,393 shares of company stock worth $284,570,654 in the last quarter. 20.70% of the stock is owned by insiders.

Tesla Trading Down 3.5%

NASDAQ TSLA traded down $12.22 during trading hours on Wednesday, reaching $332.05. The company's stock had a trading volume of 97,758,015 shares, compared to its average volume of 98,217,277. The firm has a fifty day simple moving average of $289.75 and a 200-day simple moving average of $334.35. The stock has a market cap of $1.07 trillion, a P/E ratio of 162.77, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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