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

Cornerstone Wealth Group LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,452 shares of the electric vehicle producer’s stock after selling 43 shares during the period. Cornerstone Wealth Group LLC’s holdings in Tesla were worth $2,211,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TSLA. Bank & Trust Co purchased a new position in Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group raised its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $257.55 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.54. The firm’s 50-day simple moving average is $232.78 and its 200-day simple moving average is $209.50. The firm has a market cap of $826.75 billion, a PE ratio of 70.56, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Friday, October 11th. Piper Sandler increased their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. TD Cowen increased their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Stifel Nicolaus increased their target price on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $219.45.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,297 shares of company stock valued at $3,065,866 in the last quarter. Insiders own 20.70% of the company’s stock.

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.