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

Pinnacle Financial Partners Inc increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,360 shares of the electric vehicle producer’s stock after buying an additional 63 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Tesla were worth $1,611,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TSLA. Swedbank AB grew its holdings in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after acquiring an additional 1,059 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in Tesla by 28.1% in the third quarter. GHP Investment Advisors Inc. now owns 990 shares of the electric vehicle producer’s stock worth $259,000 after purchasing an additional 217 shares during the period. Ellis Investment Partners LLC bought a new position in Tesla during the 3rd quarter valued at $222,000. Finally, First Financial Bankshares Inc increased its position in shares of Tesla by 2.8% during the 3rd quarter. First Financial Bankshares Inc now owns 8,305 shares of the electric vehicle producer’s stock valued at $2,173,000 after purchasing an additional 226 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 over the last ninety days. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. Wells Fargo & Company raised their target price on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $319.57.

Tesla Price Performance

Shares of TSLA opened at $330.53 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $1.06 trillion, a PE ratio of 162.03, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm’s 50 day moving average price is $397.52 and its 200 day moving average price is $314.96.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.