Tesla, Inc. (NASDAQ:TSLA) Stock Position Lowered by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lessened its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 3.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,385 shares of the electric vehicle producer’s stock after selling 133 shares during the period. Pinnacle Financial Partners Inc’s holdings in Tesla were worth $847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MidWestOne Financial Group Inc. grew its stake in shares of Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after buying an additional 15 shares during the last quarter. Everett Harris & Co. CA grew its stake in shares of Tesla by 1.4% in the second quarter. Everett Harris & Co. CA now owns 2,967 shares of the electric vehicle producer’s stock worth $777,000 after purchasing an additional 40 shares during the last quarter. Meritage Portfolio Management grew its stake in shares of Tesla by 2.8% in the second quarter. Meritage Portfolio Management now owns 1,478 shares of the electric vehicle producer’s stock worth $387,000 after purchasing an additional 40 shares during the last quarter. Legacy Financial Group Inc. grew its stake in shares of Tesla by 3.1% in the second quarter. Legacy Financial Group Inc. now owns 1,348 shares of the electric vehicle producer’s stock worth $353,000 after purchasing an additional 40 shares during the last quarter. Finally, City State Bank grew its stake in shares of Tesla by 3.3% in the third quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 104,716 shares of the company’s stock, valued at $26,179,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 1,049 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $244.34, for a total value of $256,312.66. Following the completion of the sale, the senior vice president now directly owns 61,124 shares of the company’s stock, valued at $14,935,038.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 104,716 shares of the company’s stock, valued at $26,179,000. The disclosure for this sale can be found here. Insiders have sold a total of 9,222 shares of company stock worth $2,298,583 over the last quarter. Company insiders own 25.10% of the company’s stock.

Tesla Trading Up 0.3 %

Shares of TSLA stock traded up $0.62 during mid-day trading on Friday, reaching $183.25. The stock had a trading volume of 107,080,680 shares, compared to its average volume of 111,420,891. Tesla, Inc. has a 52-week low of $152.37 and a 52-week high of $299.29. The company has a current ratio of 1.69, a quick ratio of 1.18 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $236.61 and its two-hundred day moving average price is $243.24. The firm has a market capitalization of $582.54 billion, a PE ratio of 42.35, a price-to-earnings-growth ratio of 3.47 and a beta of 2.31.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 17.56% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the firm earned $1.07 EPS. The company’s revenue was up 3.5% on a year-over-year basis. Equities analysts expect that Tesla, Inc. will post 3.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TSLA shares. Royal Bank of Canada dropped their target price on shares of Tesla from $300.00 to $297.00 and set an “outperform” rating on the stock in a report on Thursday. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Roth Mkm reiterated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Thursday, October 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Friday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, January 2nd. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $221.10.

Check Out Our Latest Stock Analysis on TSLA

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. It 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, retail merchandise, and vehicle insurance services.

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