Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Cornerstone Planning Group LLC

Cornerstone Planning Group LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,233 shares of the electric vehicle producer’s stock after selling 84 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Tesla were worth $887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after acquiring an additional 187 shares in the last quarter. Finley Financial LLC acquired a new position in shares of Tesla in the fourth quarter worth $64,000. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 136.4% during the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after acquiring an additional 176 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 5.8 %

Shares of TSLA stock opened at $355.94 on Friday. The stock has a market cap of $1.14 trillion, a P/E ratio of 174.48, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a fifty day moving average price of $407.25 and a 200 day moving average price of $306.44. 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) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSLA. Piper Sandler raised their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Monday. Truist Financial increased their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. The Goldman Sachs Group increased their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $326.50.

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.