Pinnacle Family Advisors LLC Has $2.06 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Pinnacle Family Advisors LLC increased its stake in Tesla, Inc. by 22.4% during the first quarter, now holding 7,938 shares valued at approximately $2.06 million.
• Institutional investors collectively own 66.20% of Tesla's stock, with Goldman Sachs increasing its holdings by 322.1% in the same quarter.
• Tesla reported a quarterly earnings miss with $0.40 EPS, below the estimated $0.43, reflecting 11.8% year-over-year revenue decline.

Pinnacle Family Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,938 shares of the electric vehicle producer's stock after acquiring an additional 1,455 shares during the quarter. Tesla makes up approximately 1.1% of Pinnacle Family Advisors LLC's holdings, making the stock its 24th largest position. Pinnacle Family Advisors LLC's holdings in Tesla were worth $2,057,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its stake in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in Tesla during the 4th quarter worth $346,000. Highview Capital Management LLC DE bought a new position in Tesla during the 4th quarter worth $2,367,000. Finally, Bison Wealth LLC grew its stake in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after purchasing an additional 3,558 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. Robert W. Baird reissued a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. William Blair reissued a "market perform" rating on shares of Tesla in a research note on Friday. Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. HSBC restated a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Finally, Bank of America increased their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Up 3.6%

Shares of TSLA traded up $12.31 during midday trading on Friday, reaching $350.84. 108,740,568 shares of the stock were exchanged, compared to its average volume of 72,902,024. Tesla, Inc. has a 12-month low of $210.51 and a 12-month high of $488.54. The firm has a 50 day simple moving average of $324.00 and a 200-day simple moving average of $301.88. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 202.80, a P/E/G ratio of 12.24 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm 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 firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla 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 value of $4,857,150.00. Following the sale, the senior vice president owned 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 SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,564 shares of company stock valued at $49,396,070. Corporate insiders own 20.70% of the company's stock.

Tesla 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.