Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Cornerstone Advisors LLC

Cornerstone Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 170,100 shares of the electric vehicle producer’s stock after purchasing an additional 18,000 shares during the quarter. Tesla accounts for 1.8% of Cornerstone Advisors LLC’s holdings, making the stock its 8th biggest holding. Cornerstone Advisors LLC’s holdings in Tesla were worth $44,503,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Tesla by 0.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after purchasing an additional 331 shares during the last quarter. EntryPoint Capital LLC grew its position in Tesla by 264.1% in the first quarter. EntryPoint Capital LLC now owns 670 shares of the electric vehicle producer’s stock valued at $118,000 after acquiring an additional 486 shares during the last quarter. Capital International Investors acquired a new position in Tesla during the first quarter worth about $48,068,000. Westwood Holdings Group Inc. lifted its holdings in shares of Tesla by 466.9% in the first quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock worth $2,777,000 after acquiring an additional 13,012 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Tesla by 86.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 979,760 shares of the electric vehicle producer’s stock valued at $172,232,000 after purchasing an additional 454,567 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on TSLA shares. Wolfe Research initiated coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Price Performance

Tesla stock opened at $342.03 on Thursday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company’s 50 day moving average price is $259.42 and its two-hundred day moving average price is $224.12. The stock has a market cap of $1.10 trillion, a P/E ratio of 93.71, a P/E/G ratio of 11.24 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.