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

Cornerstone Wealth Group LLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,201 shares of the electric vehicle producer’s stock after selling 251 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Tesla were worth $3,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth about $29,000. Clean Yield Group increased its position in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the 3rd quarter worth approximately $35,000. M&R Capital Management Inc. lifted its position in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Finally, Quarry LP acquired a new stake in Tesla in the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 2.3 %

Shares of TSLA stock opened at $389.10 on Thursday. The stock has a market capitalization of $1.25 trillion, a P/E ratio of 106.60, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a 50 day moving average price of $401.04 and a 200 day moving average price of $296.63.

Tesla (NASDAQ:TSLA) last announced 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 net margin of 13.07% and a return on equity of 10.24%. Equities research analysts predict that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TSLA. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Piper Sandler increased their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a research note on Wednesday. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $313.84.

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.