W.H. Cornerstone Investments Inc. Purchases 378 Shares of Tesla, Inc. (NASDAQ:TSLA)

W.H. Cornerstone Investments Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 39.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,344 shares of the electric vehicle producer’s stock after acquiring an additional 378 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Tesla were worth $543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla during the fourth quarter valued at approximately $46,000. PayPay Securities Corp boosted its position in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the third quarter valued at approximately $35,000. Finally, Finley Financial LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 over the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $355.84 on Tuesday. The business’s fifty day simple moving average is $406.31 and its 200-day simple moving average is $308.78. The company has a market cap of $1.14 trillion, a PE ratio of 174.43, a PEG ratio of 6.22 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Benchmark initiated coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Wells Fargo & Company boosted their target price on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $326.50.

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.