Cornercap Investment Counsel Inc. Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Cornercap Investment Counsel Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,554 shares of the electric vehicle producer’s stock after purchasing an additional 87 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Tesla were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wyrmwood Management LLC acquired a new position in shares of Tesla during the 4th quarter worth approximately $25,000. Alpha Paradigm Partners LLC acquired a new position in shares of Tesla during the 3rd quarter worth approximately $27,000. Perkins Coie Trust Co boosted its holdings in shares of Tesla by 72.0% during the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 54 shares during the last quarter. Mendota Financial Group LLC boosted its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Finally, Ogorek Anthony Joseph NY ADV lifted its holdings in Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TSLA shares. Barclays decreased their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday. Truist Financial cut their target price on Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. Morgan Stanley cut their price objective on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Finally, Redburn Atlantic initiated coverage on Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective on the stock. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $197.15.

Tesla Trading Down 1.1 %

Shares of Tesla stock opened at $155.45 on Thursday. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock has a market cap of $495.08 billion, a PE ratio of 36.07, a price-to-earnings-growth ratio of 4.15 and a beta of 2.39. The company has a 50-day moving average of $180.24 and a two-hundred day moving average of $212.64.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 in the last ninety days. Corporate insiders own 25.10% of the company’s stock.

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.