Cornerstone Capital Inc. Buys 1,480 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cornerstone Capital Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 200.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,220 shares of the electric vehicle producer’s stock after acquiring an additional 1,480 shares during the quarter. Cornerstone Capital Inc.’s holdings in Tesla were worth $589,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Means Investment CO. Inc. grew its stake in shares of Tesla by 219.9% in the third quarter. Means Investment CO. Inc. now owns 6,455 shares of the electric vehicle producer’s stock worth $1,712,000 after acquiring an additional 4,437 shares during the period. Physicians Financial Services Inc. grew its position in Tesla by 125.6% during the third quarter. Physicians Financial Services Inc. now owns 2,511 shares of the electric vehicle producer’s stock valued at $666,000 after buying an additional 1,398 shares during the period. Hancock Whitney Corp grew its position in Tesla by 234.4% during the third quarter. Hancock Whitney Corp now owns 6,794 shares of the electric vehicle producer’s stock valued at $1,802,000 after buying an additional 4,762 shares during the period. Alaethes Wealth LLC grew its position in Tesla by 45.1% during the second quarter. Alaethes Wealth LLC now owns 547 shares of the electric vehicle producer’s stock valued at $368,000 after buying an additional 170 shares during the period. Finally, Beam Wealth Advisors Inc. grew its position in Tesla by 199.5% during the third quarter. Beam Wealth Advisors Inc. now owns 1,644 shares of the electric vehicle producer’s stock valued at $436,000 after buying an additional 1,095 shares during the period. 43.00% of the stock is currently owned by institutional investors.

Tesla Price Performance

Tesla stock opened at $122.40 on Friday. The company has a market cap of $386.51 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 0.95 and a beta of 2.02. The firm’s fifty day moving average is $156.91 and its 200 day moving average is $225.42. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29.

Tesla (NASDAQ:TSLA – Get Rating) last posted its quarterly earnings data on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The business had revenue of $21.45 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business’s revenue was up 55.9% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 3.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on TSLA shares. Piper Sandler cut their target price on shares of Tesla from $360.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday, September 29th. StockNews.com assumed coverage on shares of Tesla in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Oppenheimer downgraded shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, December 19th. Wedbush lowered their price target on shares of Tesla from $250.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, December 23rd. Finally, Robert W. Baird lowered their price target on shares of Tesla from $316.00 to $252.00 and set an “outperform” rating on the stock in a report on Wednesday, December 28th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $225.95.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the transaction, the senior vice president now owns 62,988 shares in the company, valued at $14,484,090.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the transaction, the senior vice president now owns 62,988 shares in the company, valued at $14,484,090.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 1,312 shares of the business’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total transaction of $233,627.84. Following the transaction, the senior vice president now owns 64,259 shares in the company, valued at approximately $11,442,600.13. The disclosure for this sale can be found here. Insiders have sold 24,172,833 shares of company stock worth $4,492,567,309 over the last quarter. Insiders own 25.10% of the company’s stock.

Tesla Company Profile

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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.