Pinney & Scofield Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Pinney & Scofield Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 900 shares of the electric vehicle producer's stock, valued at approximately $363,000.

Several other institutional investors also recently modified their holdings of the business. True Wealth Design LLC increased its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% in 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 in the last quarter. GS Investments Inc. boosted its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new position in shares of Tesla during the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 4th quarter worth approximately $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $25,466,850. This represents a 56.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction 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 $7,242,273.50. This trade represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,623 shares of company stock valued at $116,650,831. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSLA. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Argus set a $410.00 price target on Tesla in a research report on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $293.97.

Tesla Stock Down 0.5%

Shares of NASDAQ TSLA traded down $1.73 during trading on Wednesday, hitting $361.16. 48,410,921 shares of the company traded hands, compared to its average volume of 97,401,849. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 176.94, a P/E/G ratio of 5.86 and a beta of 2.43. The business's fifty day moving average is $281.93 and its 200 day moving average is $333.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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). The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the business earned $0.45 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.