W.H. Cornerstone Investments Inc. Increases Stock Position in Tesla, Inc. $TSLA

W.H. Cornerstone Investments Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 50.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,294 shares of the electric vehicle producer’s stock after acquiring an additional 766 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Tesla were worth $729,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TSLA. Brighton Jones LLC raised its position in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 931 shares during the period. Bison Wealth LLC lifted its stake in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. Edgestream Partners L.P. grew its position in shares of Tesla by 43.0% during the first quarter. Edgestream Partners L.P. now owns 14,107 shares of the electric vehicle producer’s stock worth $3,656,000 after purchasing an additional 4,242 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its holdings in shares of Tesla by 23.6% in the first quarter. Tectonic Advisors LLC now owns 786 shares of the electric vehicle producer’s stock worth $204,000 after buying an additional 150 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. Insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TSLA. Cantor Fitzgerald set a $510.00 target price on Tesla and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Mizuho boosted their target price on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, President Capital raised their price objective on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $391.08.

Tesla Trading Down 5.2%

Shares of TSLA stock traded down $22.20 on Thursday, reaching $408.40. 24,106,084 shares of the stock were exchanged, compared to its average volume of 100,225,148. The firm has a 50 day moving average of $427.33 and a two-hundred day moving average of $359.18. The stock has a market cap of $1.36 trillion, a P/E ratio of 272.86, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter last year, the firm earned $0.72 EPS. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.