Pinnacle Bancorp Inc. Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Bancorp Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 92.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 500 shares of the electric vehicle producer’s stock after acquiring an additional 240 shares during the period. Pinnacle Bancorp Inc.’s holdings in Tesla were worth $202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter valued at about $29,000. Clean Yield Group grew its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla during the 3rd quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 3.4 %

Tesla stock opened at $413.82 on Friday. The business has a fifty day moving average price of $385.50 and a 200-day moving average price of $285.69. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 113.38, a PEG ratio of 6.53 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TSLA shares. HSBC reiterated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Wells Fargo & Company boosted their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler raised their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $299.33.

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.