Cornerstone Planning Group LLC Sells 84 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cornerstone Planning Group LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,233 shares of the electric vehicle producer’s stock after selling 84 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Tesla were worth $887,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at about $29,000. Peterson Financial Group Inc. bought a new stake in Tesla during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares during the last quarter. Finley Financial LLC bought a new stake in Tesla during the 4th quarter worth about $64,000. Finally, Abich Financial Wealth Management LLC raised its holdings in Tesla by 136.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after purchasing an additional 176 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. UBS Group boosted their price objective on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. The Goldman Sachs Group boosted their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Morgan Stanley boosted their price objective on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $326.50.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by insiders.

Tesla Trading Up 5.8 %

NASDAQ:TSLA opened at $355.94 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $407.25 and a two-hundred day moving average price of $306.44. The company has a market cap of $1.14 trillion, a P/E ratio of 174.48, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34.

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

About Tesla

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.