Cornell Pochily Investment Advisors Inc. Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Cornell Pochily Investment Advisors Inc. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,639 shares of the electric vehicle producer’s stock after buying an additional 330 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Tesla were worth $1,469,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. World Investment Advisors LLC boosted its holdings in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management lifted its stake in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd increased its stake in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares in the last quarter. MML Investors Services LLC raised its stake in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after buying an additional 1,741 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $400.28 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.28 trillion, a P/E ratio of 109.67, a P/E/G ratio of 8.42 and a beta of 2.30. The stock has a 50 day moving average of $401.98 and a two-hundred day moving average of $297.28. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. On average, research analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on TSLA shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Tesla in a report on Thursday. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and raised their price target for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Truist Financial increased their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Mizuho reaffirmed an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research report on Thursday. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $318.31.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 553,386 shares of company stock valued at $196,305,796 over the last quarter. 20.70% of the stock is currently owned by insiders.

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.