Cornerstone Planning Group LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Cornerstone Planning Group LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,317 shares of the electric vehicle producer’s stock after purchasing an additional 216 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Tesla were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TSLA. Integris Wealth Management LLC raised its holdings in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its stake in shares of Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the last quarter. Echo Wealth Management LLC grew its stake in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the last quarter. Essex Savings Bank grew its stake in shares of Tesla by 1.4% in the third quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock worth $818,000 after acquiring an additional 44 shares during the period. Finally, WASHINGTON TRUST Co lifted its holdings in shares of Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after buying an additional 45 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. William Blair assumed coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $225.06.

Tesla Trading Up 4.2 %

TSLA opened at $342.21 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 90.00, a P/E/G ratio of 11.37 and a beta of 2.29. The stock’s 50 day moving average price is $246.26 and its 200-day moving average price is $218.16. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,797 shares of company stock valued at $19,211,821. 20.70% of the stock is currently owned by corporate 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.