Cornercap Investment Counsel Inc. Has $386,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Cornercap Investment Counsel Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,554 shares of the electric vehicle producer’s stock after buying an additional 87 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Tesla were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSLA. Bear Mountain Capital Inc. bought a new position in Tesla in the 4th quarter worth $95,000. Howard Capital Management Inc. bought a new position in Tesla in the 4th quarter worth $1,943,000. Carnegie Capital Asset Management LLC raised its holdings in Tesla by 5.9% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 7,487 shares of the electric vehicle producer’s stock worth $1,860,000 after acquiring an additional 416 shares during the period. Vontobel Holding Ltd. raised its holdings in Tesla by 49.9% in the 4th quarter. Vontobel Holding Ltd. now owns 604,691 shares of the electric vehicle producer’s stock worth $150,254,000 after acquiring an additional 201,386 shares during the period. Finally, Root Financial Partners LLC raised its holdings in Tesla by 31.5% in the 4th quarter. Root Financial Partners LLC now owns 2,140 shares of the electric vehicle producer’s stock worth $532,000 after acquiring an additional 513 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, April 2nd. Mizuho restated a “neutral” rating and set a $195.00 price objective (down previously from $270.00) on shares of Tesla in a report on Monday, March 25th. Barclays dropped their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $298.00 price objective on shares of Tesla in a report on Wednesday, March 27th. Finally, Canaccord Genuity Group dropped their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $197.15.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last ninety days. Insiders own 25.10% of the company’s stock.

Tesla Trading Down 1.1 %

Shares of NASDAQ TSLA opened at $155.45 on Thursday. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The company has a market cap of $495.08 billion, a PE ratio of 36.07, a P/E/G ratio of 4.15 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $180.24 and a two-hundred day moving average of $212.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal 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.