Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its position in Tesla, Inc. (NASDAQ:TSLA) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,360 shares of the electric vehicle producer’s stock after buying an additional 63 shares during the period. Pinnacle Financial Partners Inc’s holdings in Tesla were worth $1,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the fourth quarter valued at $46,000. PayPay Securities Corp lifted its position in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 2.2 %

Shares of NASDAQ:TSLA opened at $330.53 on Tuesday. The firm has a market cap of $1.06 trillion, a PE ratio of 162.03, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a fifty day simple moving average of $397.52 and a 200 day simple moving average of $314.96. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 over the last three months. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Truist Financial upped their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Monday, February 10th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research note on Monday, February 10th. Finally, Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $319.57.

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.