Cornerstone Wealth Group LLC Buys 1,257 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cornerstone Wealth Group LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,495 shares of the electric vehicle producer’s stock after acquiring an additional 1,257 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Tesla were worth $1,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Apexium Financial LP lifted its position in Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after buying an additional 21,972 shares during the period. Forum Financial Management LP boosted its position in shares of Tesla by 19.7% in the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after purchasing an additional 3,582 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Tesla by 9.4% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after purchasing an additional 598 shares in the last quarter. Atalanta Sosnoff Capital LLC increased its position in Tesla by 3.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after buying an additional 6,575 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after buying an additional 1,943 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho raised their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Evercore ISI decreased their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a report on Wednesday, July 24th. Royal Bank of Canada reduced their price target on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, KGI Securities reaffirmed a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $204.21.

Tesla Price Performance

Shares of Tesla stock traded up $9.66 during trading hours on Friday, hitting $220.32. The company’s stock had a trading volume of 80,026,586 shares, compared to its average volume of 98,605,102. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market cap of $702.64 billion, a PE ratio of 56.23, a PEG ratio of 5.60 and a beta of 2.31. The business has a 50 day moving average price of $218.62 and a two-hundred day moving average price of $191.82.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current fiscal 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.