Carolinas Wealth Consulting LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Carolinas Wealth Consulting LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 71.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,337 shares of the electric vehicle producer's stock after selling 3,318 shares during the period. Carolinas Wealth Consulting LLC's holdings in Tesla were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Group Ltd. purchased a new position in shares of Tesla during the fourth quarter valued at approximately $275,000. Comprehensive Financial Planning Inc. PA bought a new position in Tesla during the 4th quarter valued at approximately $1,361,000. Tallon Kerry Patrick purchased a new position in Tesla during the fourth quarter valued at $374,000. Eagle Capital Management LLC bought a new stake in Tesla in the fourth quarter worth $331,000. Finally, Independent Wealth Network Inc. grew its stake in shares of Tesla by 77.2% in the fourth quarter. Independent Wealth Network Inc. now owns 3,381 shares of the electric vehicle producer's stock worth $1,365,000 after acquiring an additional 1,473 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 6.9%

TSLA stock traded up $23.55 during mid-day trading on Tuesday, reaching $362.89. 118,443,476 shares of the stock traded hands, compared to its average volume of 97,589,424. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The stock has a market capitalization of $1.17 trillion, a PE ratio of 177.89, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business has a 50-day moving average price of $279.40 and a two-hundred day moving average price of $333.38.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for 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 in the previous year, the company posted $0.45 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on TSLA shares. Robert W. Baird cut their price objective on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley restated a "buy" rating and issued a $430.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Royal Bank of Canada dropped their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $293.97.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. This represents a 20.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 415,623 shares of company stock valued at $116,650,831. Insiders own 20.70% of the company's stock.

Tesla 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.