Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Lessened by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,309 shares of the electric vehicle producer’s stock after selling 90 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Tesla were worth $866,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TSLA. Bank & Trust Co purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Clean Yield Group grew its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. increased its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLA. Mizuho lifted their target price on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Truist Financial lifted their price objective on Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research report on Thursday, October 3rd. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $230.00 price target on shares of Tesla in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $210.72.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last quarter. 25.10% of the stock is owned by company insiders.

Tesla Stock Up 0.6 %

Shares of NASDAQ TSLA opened at $219.16 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $698.94 billion, a price-to-earnings ratio of 55.91, a price-to-earnings-growth ratio of 6.48 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The firm’s 50-day simple moving average is $225.84 and its 200 day simple moving average is $204.27.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.