Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Trimmed by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,836 shares of the electric vehicle producer's stock after selling 3,382 shares during the period. Tesla makes up approximately 0.9% of Pinnacle Wealth Planning Services Inc.'s portfolio, 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 also recently made changes to their positions in the stock. True Wealth Design LLC increased its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. increased its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC purchased a new position in shares of Tesla in the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

TSLA traded up $5.42 during trading hours on Thursday, hitting $362.32. 54,001,029 shares of the stock were exchanged, compared to its average volume of 97,550,016. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock has a 50-day simple moving average of $284.09 and a 200-day simple moving average of $333.75. The stock has a market cap of $1.17 trillion, a price-to-earnings ratio of 177.38, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft lowered their price target on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Argus set a $410.00 target price on Tesla in a research note on Thursday, April 24th. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Piper Sandler set a $400.00 price target on Tesla in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group dropped their price objective on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $293.97.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $350.11, for a total value of $1,050,330.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $9,435,464.50. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,623 shares of company stock worth $116,650,831 over the last ninety days. Company insiders own 20.70% of the company's stock.

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.