Pinnacle Wealth Planning Services Inc. Sells 3,382 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Wealth Planning Services Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,836 shares of the electric vehicle producer's stock after selling 3,382 shares during the quarter. Tesla makes up 0.9% of Pinnacle Wealth Planning Services Inc.'s holdings, making the stock its 16th biggest holding. Pinnacle Wealth Planning Services Inc.'s holdings in Tesla were worth $5,991,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC increased its stake in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank acquired a new position in shares of Tesla during the fourth quarter valued at about $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Northern Trust Corp raised its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $23.55 during trading on Tuesday, reaching $362.89. 118,443,476 shares of the stock traded hands, compared to its average volume of 97,589,424. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $1.17 trillion, a P/E ratio of 177.89, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a 50-day moving average of $279.40 and a 200-day moving average of $333.38.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the company earned $0.45 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director now directly owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 415,623 shares of company stock worth $116,650,831. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TSLA. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and lifted their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, Glj Research reaffirmed a "sell" rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $293.97.

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.