Cornerstone Wealth Advisors Inc. Has $912,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cornerstone Wealth Advisors Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,610 shares of the electric vehicle producer’s stock after selling 140 shares during the period. Tesla makes up about 0.3% of Cornerstone Wealth Advisors Inc.’s portfolio, making the stock its 27th largest position. Cornerstone Wealth Advisors Inc.’s holdings in Tesla were worth $912,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Lam Group Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Bank & Trust Co purchased a new stake in shares of Tesla in the second quarter valued at about $25,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the fourth quarter valued at about $37,000. Guardian Wealth Management Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at about $47,000. Finally, Kathleen S. Wright Associates Inc. raised its holdings in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 0.6 %

Shares of TSLA traded up $1.16 during mid-day trading on Friday, reaching $200.00. The company’s stock had a trading volume of 58,648,274 shares, compared to its average volume of 100,019,031. The stock has a market cap of $637.84 billion, a PE ratio of 51.02, a P/E/G ratio of 5.18 and a beta of 2.31. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98. The company’s fifty day moving average price is $212.04 and its two-hundred day moving average price is $190.40.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm posted $0.78 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Argus restated a “buy” rating and set a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Glj Research raised their price objective on shares of Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Evercore ISI decreased their price objective 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. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $204.21.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, 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 SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is 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.