Pinnacle Financial Partners Inc Purchases 6,534 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Financial Partners Inc raised its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 193.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,919 shares of the electric vehicle producer’s stock after purchasing an additional 6,534 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Tesla were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of TSLA. Vanguard Group Inc. raised its holdings in Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after buying an additional 3,453,078 shares during the last quarter. State Street Corp raised its holdings in Tesla by 4.4% in the 2nd quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after purchasing an additional 4,431,570 shares in the last quarter. Morgan Stanley raised its holdings in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. FMR LLC raised its holdings in Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after purchasing an additional 269,182 shares in the last quarter. Finally, Norges Bank bought a new position in Tesla in the 4th quarter worth $3,459,540,000. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Sanford C. Bernstein decreased their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Wells Fargo & Company reiterated an “underweight” rating and issued a $125.00 price target on shares of Tesla in a research note on Monday. KGI Securities reiterated a “neutral” rating and issued a $213.00 price target (down from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Wedbush cut their price objective on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. Finally, UBS Group cut their price objective on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $203.89.

Get Our Latest Report on TSLA

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,598 shares of company stock valued at $36,952,434. 20.90% of the stock is owned by corporate insiders.

Tesla Trading Down 4.9 %

TSLA stock opened at $166.63 on Wednesday. The firm has a fifty day moving average price of $185.65 and a 200 day moving average price of $219.67. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The firm has a market cap of $530.68 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 4.06 and a beta of 2.39.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 2.38 earnings per share for the current fiscal year.

Tesla Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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