Cornerstone Wealth Group LLC Has $1.27 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Cornerstone Wealth Group LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 22.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,238 shares of the electric vehicle producer’s stock after purchasing an additional 1,318 shares during the period. Cornerstone Wealth Group LLC’s holdings in Tesla were worth $1,272,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Tesla during the fourth quarter worth $7,844,757,000. International Assets Investment Management LLC boosted its holdings in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. Morgan Stanley boosted its holdings in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Tesla by 2,101.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. JPMorgan Chase & Co. cut their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, June 20th. Wedbush restated an “outperform” rating and set a $275.00 target price on shares of Tesla in a research note on Friday, June 14th. Finally, Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research report on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $187.30.

Tesla Stock Up 0.2 %

NASDAQ:TSLA opened at $197.88 on Monday. The firm’s 50 day simple moving average is $177.80 and its 200 day simple moving average is $191.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a market cap of $631.08 billion, a PE ratio of 50.48, a P/E/G ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, research analysts anticipate that Tesla, Inc. will post 1.86 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

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.