Pinnacle Bancorp Inc. Buys 45 Shares of Tesla, Inc. $TSLA

Pinnacle Bancorp Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 585 shares of the electric vehicle producer’s stock after acquiring an additional 45 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Tesla were worth $186,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TSLA. Wright Investors Service Inc. lifted its position in Tesla by 8.5% during the 2nd quarter. Wright Investors Service Inc. now owns 13,817 shares of the electric vehicle producer’s stock worth $4,389,000 after buying an additional 1,084 shares in the last quarter. Global X Japan Co. Ltd. lifted its position in Tesla by 1.2% during the 2nd quarter. Global X Japan Co. Ltd. now owns 106,933 shares of the electric vehicle producer’s stock worth $33,968,000 after buying an additional 1,265 shares in the last quarter. Weybosset Research & Management LLC bought a new stake in Tesla during the 2nd quarter worth about $218,000. Lantz Financial LLC lifted its position in Tesla by 16.6% during the 2nd quarter. Lantz Financial LLC now owns 1,784 shares of the electric vehicle producer’s stock worth $567,000 after buying an additional 254 shares in the last quarter. Finally, AA Financial Advisors LLC lifted its position in Tesla by 18.9% during the 2nd quarter. AA Financial Advisors LLC now owns 1,152 shares of the electric vehicle producer’s stock worth $366,000 after buying an additional 183 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Benchmark reissued a “buy” rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. HSBC reissued a “reduce” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Dbs Bank upped their target price on shares of Tesla from $300.00 to $450.00 in a report on Wednesday. Finally, Stifel Nicolaus set a $440.00 target price on shares of Tesla in a report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $317.70.

Tesla Stock Performance

Shares of Tesla stock opened at $426.07 on Friday. The company has a 50 day moving average of $340.68 and a 200-day moving average of $308.35. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.42 trillion, a PE ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the company posted $0.52 EPS. The business’s revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock valued at $77,360,462. Company insiders own 20.70% of the company’s stock.

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.