Pin Oak Investment Advisors Inc. Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Pin Oak Investment Advisors Inc. significantly increased its position in Tesla by 2,248.9% during the first quarter, owning 1,057 shares, valued at approximately $283,000.
• Tesla missed analyst earnings expectations with an EPS of $0.40 for the latest quarter, compared to the consensus estimate of $0.43, and reported revenue of $22.50 billion, below the expected $23.18 billion.
• Insider trading was notable, with Director Kimbal Musk selling 91,588 shares, decreasing his ownership by 5.89%, while total insider sales reached $279 million over the last three months.

Pin Oak Investment Advisors Inc. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2,248.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,057 shares of the electric vehicle producer's stock after acquiring an additional 1,012 shares during the quarter. Pin Oak Investment Advisors Inc.'s holdings in Tesla were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in Tesla by 79.5% during the fourth 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. Navigoe LLC bought a new stake in Tesla during the fourth quarter worth $37,000. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank grew its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Tesla during the fourth quarter worth $39,000. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Canaccord Genuity Group upped their price target on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. China Renaissance reissued a "hold" rating and issued a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Price Performance

TSLA traded down $9.32 during trading on Thursday, reaching $309.72. 59,272,081 shares of the company were exchanged, compared to its average volume of 107,835,406. The company's 50-day moving average is $323.61 and its two-hundred day moving average is $313.14. The company has a market cap of $998.97 billion, a price-to-earnings ratio of 178.69, a P/E/G ratio of 11.28 and a beta of 2.39. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. Research analysts forecast 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.