Cornerstone Capital Management Holdings LLC. Grows Holdings in Tesla Inc (TSLA)
Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,584 shares of the electric vehicle producer’s stock after buying an additional 1,138 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Tesla were worth $5,997,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. Mckinley Capital Management LLC Delaware purchased a new position in shares of Tesla in the third quarter valued at $106,000. Pittenger & Anderson Inc. boosted its stake in shares of Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after purchasing an additional 50 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Tesla by 285.7% in the second quarter. First Eagle Investment Management LLC now owns 405 shares of the electric vehicle producer’s stock valued at $146,000 after purchasing an additional 300 shares during the period. First Personal Financial Services purchased a new position in shares of Tesla in the third quarter valued at $148,000. Finally, WFG Advisors LP boosted its stake in shares of Tesla by 106.8% in the second quarter. WFG Advisors LP now owns 457 shares of the electric vehicle producer’s stock valued at $165,000 after purchasing an additional 236 shares during the period. Institutional investors own 57.20% of the company’s stock.
Tesla Inc (NASDAQ:TSLA) opened at $337.89 on Friday. Tesla Inc has a 52 week low of $197.39 and a 52 week high of $389.61. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.71.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.09) by $0.17. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The firm’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share. analysts expect that Tesla Inc will post -11.38 earnings per share for the current year.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $341.69, for a total transaction of $748,301.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Eric Branderiz sold 1,736 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total transaction of $589,354.64. Following the sale, the vice president now directly owns 1,736 shares in the company, valued at $589,354.64. The disclosure for this sale can be found here. Insiders have sold 11,417 shares of company stock worth $3,694,761 over the last three months. 23.10% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on TSLA. ValuEngine upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Sanford C. Bernstein set a $265.00 target price on shares of Tesla and gave the company a “hold” rating in a research note on Monday, November 13th. Barclays restated a “sell” rating on shares of Tesla in a research note on Sunday, October 15th. Royal Bank of Canada decreased their target price on shares of Tesla from $345.00 to $340.00 and set a “sector perform” rating for the company in a research note on Thursday, November 2nd. Finally, Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $282.88 target price for the company in a research note on Thursday, November 2nd. Thirteen analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Tesla has an average rating of “Hold” and an average price target of $331.04.
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Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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