Pinion Investment Advisors LLC Has $4.52 Million Stock Position in Tesla, Inc. $TSLA

Key Points

• Pinion Investment Advisors LLC reduced its Tesla holdings by 49.9% in Q2, owning approximately $4.52 million worth of shares, constituting about 1.6% of its total portfolio.
• Multiple hedge funds have increased their stakes in Tesla, with Cherry Tree Wealth Management LLC boosting its position by 86.3% in Q1, reflecting ongoing investor interest.
• Tesla's stock has seen price target increases from various analysts, with Royal Bank of Canada setting a target of $500.00, as many analysts maintain an overall favorable sentiment towards the company.

Pinion Investment Advisors LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 49.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,237 shares of the electric vehicle producer's stock after selling 14,195 shares during the quarter. Tesla makes up approximately 1.6% of Pinion Investment Advisors LLC's holdings, making the stock its 10th biggest position. Pinion Investment Advisors LLC's holdings in Tesla were worth $4,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the 1st quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction dated 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. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last quarter. 19.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley reiterated an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Thursday, October 2nd. Dbs Bank increased their price target on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Bank of America increased their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Royal Bank Of Canada increased their price target on Tesla from $325.00 to $500.00 and gave the company an "outperform" rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price target on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and an average target price of $354.67.

Tesla Stock Performance

TSLA stock opened at $413.49 on Friday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business's fifty day simple moving average is $375.97 and its two-hundred day simple moving average is $327.51. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 15.81 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) 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 in the previous year, the company posted $0.52 EPS. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current 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.

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