W.H. Cornerstone Investments Inc. Grows Stock Holdings in Tesla, Inc. $TSLA

W.H. Cornerstone Investments Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 50.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,294 shares of the electric vehicle producer’s stock after acquiring an additional 766 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Tesla were worth $729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Chelsea Counsel Co. increased its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. LGT Financial Advisors LLC acquired a new position in Tesla in the 2nd quarter valued at $29,000. Evergreen Private Wealth LLC grew its holdings in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Glynn Capital Management LLC purchased a new position in Tesla during the 2nd quarter worth $35,000. Finally, Pacific Center for Financial Services increased its position in shares of Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Glj Research restated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. UBS Group reiterated a “sell” rating on shares of Tesla in a research report on Friday, November 7th. William Blair restated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Melius began coverage on Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price for the company. Finally, Melius Research set a $520.00 price objective on Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $391.08.

Tesla Price Performance

Shares of Tesla stock traded down $22.20 during trading on Thursday, hitting $408.40. 24,106,084 shares of the company were exchanged, compared to its average volume of 100,225,148. The firm has a 50 day moving average price of $427.33 and a 200 day moving average price of $359.18. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 272.86, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

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

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.