Cornerstone Management Inc. Takes $294,000 Position in Tesla, Inc. $TSLA

Key Points

• Cornerstone Management Inc. has acquired a new stake in Tesla, purchasing 924 shares worth approximately $294,000 during the second quarter.
• Several hedge funds, including CAP Partners LLC and Strata Wealth Advisors LLC, significantly increased their holdings in Tesla during the same period, highlighting growing institutional interest.
• Tesla reported a quarterly EPS of $0.50, exceeding analyst expectations, with revenues reaching $28.10 billion, up 11.6% year-over-year.

Cornerstone Management Inc. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 924 shares of the electric vehicle producer's stock, valued at approximately $294,000.

A number of other hedge funds also recently made changes to their positions in the business. CAP Partners LLC raised its holdings in shares of Tesla by 16.2% during the second quarter. CAP Partners LLC now owns 24,864 shares of the electric vehicle producer's stock valued at $7,898,000 after buying an additional 3,461 shares during the last quarter. Strata Wealth Advisors LLC raised its holdings in Tesla by 36.0% during the second quarter. Strata Wealth Advisors LLC now owns 1,831 shares of the electric vehicle producer's stock worth $582,000 after purchasing an additional 485 shares in the last quarter. Avion Wealth raised its holdings in Tesla by 75.4% during the second quarter. Avion Wealth now owns 5,238 shares of the electric vehicle producer's stock worth $1,663,000 after purchasing an additional 2,252 shares in the last quarter. FSM Wealth Advisors LLC raised its holdings in Tesla by 87.7% during the second quarter. FSM Wealth Advisors LLC now owns 9,073 shares of the electric vehicle producer's stock worth $2,667,000 after purchasing an additional 4,238 shares in the last quarter. Finally, Hoge Financial Services LLC bought a new stake in Tesla during the second quarter worth approximately $285,000. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 2.3%

NASDAQ TSLA opened at $448.98 on Friday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market cap of $1.49 trillion, a price-to-earnings ratio of 299.32, a PEG ratio of 15.78 and a beta of 2.08. The firm's 50 day moving average price is $396.00 and its two-hundred day moving average price is $338.45.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The firm had revenue of $28.10 billion for the quarter, compared to analysts' expectations of $24.98 billion. During the same period in the previous year, the company posted $0.72 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last ninety days. Corporate insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a "buy" rating in a report on Wednesday, October 8th. Dbs Bank boosted their target price on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. BNP Paribas Exane began coverage on Tesla in a report on Thursday, October 16th. They issued an "underperform" rating and a $307.00 price target on the stock. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Finally, Bank of America upped their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $380.97.

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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