900 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Pinney & Scofield Inc.

Pinney & Scofield Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 900 shares of the electric vehicle producer's stock, valued at approximately $363,000.

Several other institutional investors have also recently made changes to their positions in TSLA. University of Texas Texas AM Investment Management Co. bought a new position in shares of Tesla during the fourth quarter valued at approximately $240,000. Parr Mcknight Wealth Management Group LLC purchased a new stake in Tesla during the fourth quarter worth $792,000. Pacific Point Advisors LLC bought a new stake in Tesla during the 4th quarter valued at $8,602,000. Wick Capital Partners LLC increased its holdings in shares of Tesla by 48.8% in the 4th quarter. Wick Capital Partners LLC now owns 2,927 shares of the electric vehicle producer's stock valued at $1,182,000 after acquiring an additional 960 shares during the period. Finally, Hudson Value Partners LLC bought a new position in shares of Tesla in the 4th quarter worth $235,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Tesla stock traded up $22.56 during mid-day trading on Tuesday, hitting $361.90. The company had a trading volume of 107,814,563 shares, compared to its average volume of 97,577,962. The company has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 177.40, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The company's fifty day moving average is $279.40 and its 200-day moving average is $333.38. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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 firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the company posted $0.45 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. Wedbush reaffirmed an "outperform" rating and set a $500.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and increased their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Argus set a $410.00 price target on shares of Tesla in a report on Thursday, April 24th. Finally, Raymond James lowered Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $293.97.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $9,435,464.50. This represents a 10.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,623 shares of company stock valued at $116,650,831 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.