Cornerstone Enterprises LLC Has $1.94 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Cornerstone Enterprises LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,469 shares of the electric vehicle producer's stock after purchasing an additional 925 shares during the period. Tesla accounts for approximately 1.2% of Cornerstone Enterprises LLC's investment portfolio, making the stock its 16th biggest position. Cornerstone Enterprises LLC's holdings in Tesla were worth $1,936,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC boosted its position in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank bought a new stake in shares of Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC lifted its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, Northern Trust Corp lifted its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Mizuho upped their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research report on Friday, June 20th. JPMorgan Chase & Co. cut their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Cantor Fitzgerald cut their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $298.37.

Insider Buying and Selling at Tesla

In other Tesla news, Director Joseph Gebbia purchased 4,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were purchased at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the acquisition, the director now owns 4,111 shares of the company's stock, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $323.63 on Friday. The company has a market capitalization of $1.04 trillion, a PE ratio of 177.82, a P/E/G ratio of 12.18 and a beta of 2.47. The company has a 50 day simple moving average of $314.93 and a two-hundred day simple moving average of $330.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the company posted $0.45 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.

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