Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Cornerstone Advisory LLC

Cornerstone Advisory LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,188 shares of the electric vehicle producer’s stock after acquiring an additional 188 shares during the quarter. Cornerstone Advisory LLC’s holdings in Tesla were worth $602,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TSLA. FMR LLC increased its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC increased its stake in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Northern Trust Corp increased its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Tesla by 54.3% in the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer’s stock valued at $2,193,728,000 after purchasing an additional 2,978,026 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 over the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.5%

Shares of Tesla stock opened at $316.06 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $324.70 and its 200-day simple moving average is $314.09. The stock has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 12.00 and a beta of 2.39. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 target price on Tesla in a research note on Tuesday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Robert W. Baird reissued a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Finally, Barclays lowered their price target on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $302.75.

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.