Tesla, Inc. (NASDAQ:TSLA) Holdings Lowered by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,431 shares of the electric vehicle producer’s stock after selling 601 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Tesla were worth $4,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank & Trust Co acquired a new stake in shares of Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group lifted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its position in shares of Tesla by 263.2% in 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.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. HSBC reiterated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Citigroup lowered their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research note on Wednesday, July 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $210.72.

Tesla Stock Up 0.8 %

Shares of NASDAQ:TSLA opened at $221.33 on Thursday. The company has a 50 day moving average of $226.81 and a 200-day moving average of $204.69. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The stock has a market cap of $707.07 billion, a price-to-earnings ratio of 62.17, a P/E/G ratio of 5.94 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’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 directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,661 shares of company stock valued at $16,663,291. 20.70% of the stock is currently owned by company insiders.

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.