Tesla, Inc. $TSLA Stake Lifted by Cornerstone Advisors LLC

Cornerstone Advisors LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 4.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,600 shares of the electric vehicle producer’s stock after purchasing an additional 5,700 shares during the period. Tesla makes up about 1.6% of Cornerstone Advisors LLC’s portfolio, making the stock its 11th largest holding. Cornerstone Advisors LLC’s holdings in Tesla were worth $45,616,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Chelsea Counsel Co. grew its position in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the 2nd quarter worth $29,000. Evergreen Private Wealth LLC grew its holdings in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 81 shares during the last quarter. Glynn Capital Management LLC acquired a new stake in shares of Tesla during the second quarter worth $35,000. Finally, Pacific Center for Financial Services lifted its holdings in shares of Tesla by 44.7% during the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after purchasing an additional 46 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $404.35 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a market capitalization of $1.34 trillion, a P/E ratio of 269.57, a P/E/G ratio of 16.84 and a beta of 2.06. The business has a 50-day moving average of $429.67 and a two-hundred day moving average of $360.78. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays restated a “negative” rating and set a $350.00 price objective (up previously from $275.00) on shares of Tesla in a report on Thursday, October 16th. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. Bank of America upped their price target on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Thursday, October 23rd. Finally, China Renaissance increased their target price on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $393.61.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by insiders.

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.