Pinnacle Wealth Planning Services Inc. Has $4.42 Million Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Pinnacle Wealth Planning Services Inc. increased its position in Tesla by 14.9% during the first quarter, now owning 17,052 shares valued at approximately $4.4 million.
• Goldman Sachs Group Inc. raised its stake in Tesla by 322.1%, now holding over 26.5 million shares worth nearly $6.9 billion, representing a significant investment trend among institutional investors.
• Analysts have mixed ratings for Tesla, with one issuing a Strong Buy and others maintaining Buy or Hold ratings, while the consensus price target is set at $303.31.

Pinnacle Wealth Planning Services Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,052 shares of the electric vehicle producer's stock after purchasing an additional 2,216 shares during the period. Tesla makes up about 0.7% of Pinnacle Wealth Planning Services Inc.'s portfolio, making the stock its 24th biggest holding. Pinnacle Wealth Planning Services Inc.'s holdings in Tesla were worth $4,419,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Eagle Capital Management LLC acquired a new position in Tesla in the 4th quarter valued at $331,000. Brighton Jones LLC raised its holdings in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in Tesla in the 4th quarter valued at $346,000. Finally, Highview Capital Management LLC DE acquired a new position in Tesla in the 4th quarter valued at $2,367,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,564 shares of company stock worth $51,792,190. Insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Wedbush reiterated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research note on Monday, August 4th. HSBC reiterated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Canaccord Genuity Group lifted their price target on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $303.31.

Tesla Price Performance

TSLA stock traded down $12.11 during midday trading on Friday, reaching $333.87. 80,898,652 shares of the stock were exchanged, compared to its average volume of 75,712,112. The stock has a market capitalization of $1.08 trillion, a PE ratio of 192.99, a P/E/G ratio of 11.61 and a beta of 2.06. Tesla, Inc. has a 52 week low of $205.97 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a fifty day moving average price of $323.59 and a 200 day moving average price of $302.54.

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 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 the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS 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.