Cornerstone Enterprises LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cornerstone Enterprises LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 31.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,544 shares of the electric vehicle producer’s stock after selling 3,068 shares during the quarter. Tesla accounts for approximately 1.6% of Cornerstone Enterprises LLC’s holdings, making the stock its 15th largest position. Cornerstone Enterprises LLC’s holdings in Tesla were worth $2,643,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. grew its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust purchased a new stake in Tesla during the 4th quarter valued at $38,000. Delos Wealth Advisors LLC lifted its holdings in shares of Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after buying an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC bought a new stake in shares of Tesla in the fourth quarter worth $44,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 0.2 %

Shares of NASDAQ TSLA opened at $251.96 on Friday. The stock has a market capitalization of $810.42 billion, a P/E ratio of 123.51, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The business’s 50 day moving average is $285.19 and its two-hundred day moving average is $323.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on TSLA shares. Truist Financial dropped their target price on Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Robert W. Baird dropped their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Benchmark dropped their price target on shares of Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Barclays raised their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $298.59.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This trade represents a 12.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by insiders.

Tesla 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.