Tesla, Inc. $TSLA Position Increased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the second quarter, Holdings Channel.com reports. The firm owned 14,260 shares of the electric vehicle producer’s stock after purchasing an additional 837 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Tesla were worth $4,530,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Siren L.L.C. bought a new position in shares of Tesla in the first quarter valued at about $2,332,000. Zuckerman Investment Group LLC increased its position in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares in the last quarter. Keystone Global Partners LLC acquired a new stake in Tesla in the 1st quarter valued at about $594,000. Strs Ohio bought a new position in shares of Tesla in the first quarter worth about $205,495,000. Finally, AustralianSuper Pty Ltd lifted its position in shares of Tesla by 1,823.0% during the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock worth $21,704,000 after purchasing an additional 64,772 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction 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 sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was 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 approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSLA shares. Barclays restated a “negative” rating and issued a $350.00 price objective (up previously from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Guggenheim reissued a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Tesla in a research note on Wednesday. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Bank of America boosted their price objective on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $391.08.

Tesla Trading Down 3.7%

NASDAQ:TSLA opened at $429.52 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 286.35, a PEG ratio of 16.84 and a beta of 2.06. The business’s 50-day moving average price is $420.97 and its two-hundred day moving average price is $355.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. On average, equities analysts expect 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.