Tesla, Inc. (NASDAQ:TSLA) Stake Increased by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 360.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,218 shares of the electric vehicle producer's stock after acquiring an additional 63,575 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Tesla were worth $32,799,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Horrell Capital Management Inc. boosted its holdings in Tesla by 75.6% in 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. lifted its position in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in Tesla during the fourth quarter worth about $37,000. CoreFirst Bank & Trust acquired a new stake in Tesla during the fourth quarter worth about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Tesla in the fourth quarter valued at approximately $39,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial set a $280.00 price objective on Tesla in a research report on Tuesday, April 22nd. Piper Sandler set a $400.00 price target on Tesla in a research note on Tuesday. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of "Hold" and an average price target of $287.46.

Tesla Trading Up 3.1 %

NASDAQ TSLA opened at $284.82 on Friday. The stock's fifty day moving average price is $258.13 and its 200-day moving average price is $326.09. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $917.39 billion, a P/E ratio of 139.62, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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 firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the firm posted $0.45 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $284.40, for a total value of $1,137,600.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $7,664,580. The trade was a 12.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,623 shares of company stock valued at $114,400,501. Corporate insiders own 20.70% of the company's stock.

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.

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