Pennsylvania Capital Management Inc. ADV Acquires 4,427 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pennsylvania Capital Management Inc. ADV grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 198.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,660 shares of the electric vehicle producer's stock after buying an additional 4,427 shares during the period. Tesla accounts for 0.6% of Pennsylvania Capital Management Inc. ADV's investment portfolio, making the stock its 26th largest position. Pennsylvania Capital Management Inc. ADV's holdings in Tesla were worth $1,726,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank purchased a new stake in Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC lifted its holdings 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 purchasing an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Tesla by 21.6% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TSLA shares. Oppenheimer reissued a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Cantor Fitzgerald decreased their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Benchmark restated a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research note on Thursday. Finally, Bank of America decreased their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $298.37.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president now owns 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Trading Down 0.5%

NASDAQ TSLA traded down $1.77 on Thursday, hitting $325.78. The company's stock had a trading volume of 80,066,916 shares, compared to its average volume of 101,884,690. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company's 50-day simple moving average is $313.28 and its 200 day simple moving average is $331.01. The firm has a market cap of $1.05 trillion, a P/E ratio of 179.00, a PEG ratio of 12.25 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the business posted $0.45 EPS. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.