Pinnacle Bancorp Inc. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Bancorp Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 540 shares of the electric vehicle producer’s stock after acquiring an additional 40 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Tesla were worth $140,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla during the 4th quarter worth approximately $56,600,000. Means Investment CO. Inc. increased its position in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. boosted its holdings in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. grew its stake in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla during the 4th quarter worth about $8,158,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $327.55 on Thursday. The stock has a fifty day moving average price of $311.59 and a 200 day moving average price of $331.45. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company has a market cap of $1.06 trillion, a PE ratio of 179.97, a P/E/G ratio of 12.73 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter last year, the business posted $0.45 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the chief financial officer now owns 1,950 shares of the company’s stock, valued at $682,500. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Argus reiterated a “hold” rating on shares of Tesla in a research note on Monday, June 9th. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. UBS Group raised their price objective on shares of Tesla from $190.00 to $215.00 and gave the company a “sell” rating in a report on Monday. Finally, Canaccord Genuity Group lowered their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $294.58.

About Tesla

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.