Pinnacle Financial Partners Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 193.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,121 shares of the electric vehicle producer’s stock after purchasing an additional 2,057 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Tesla were worth $828,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in TSLA. Cranbrook Wealth Management LLC increased its holdings in shares of Tesla by 224.1% during the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 65 shares in the last quarter. TFO TDC LLC acquired a new position in shares of Tesla during the second quarter worth $27,000. Horan Securities Inc. increased its holdings in shares of Tesla by 164.3% during the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 23 shares in the last quarter. West Oak Capital LLC acquired a new position in shares of Tesla during the third quarter worth $27,000. Finally, Norway Savings Bank increased its holdings in shares of Tesla by 200.0% during the third quarter. Norway Savings Bank now owns 105 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 70 shares in the last quarter. 43.00% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently issued reports on TSLA shares. Daiwa Capital Markets lowered their price target on shares of Tesla from $240.00 to $177.00 and set an “outperform” rating for the company in a report on Tuesday, December 20th. The Goldman Sachs Group decreased their price objective on Tesla from $235.00 to $205.00 and set a “buy” rating for the company in a report on Monday, January 2nd. TheStreet downgraded Tesla from a “b-” rating to a “c+” rating in a report on Tuesday, November 1st. Wedbush decreased their price objective on Tesla from $250.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, December 23rd. Finally, Bank of America decreased their price objective on Tesla from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $219.23.
Insider Transactions at Tesla
Tesla Trading Down 2.1 %
NASDAQ:TSLA opened at $128.78 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.46. The firm has a market cap of $406.66 billion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 0.95 and a beta of 2.02. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $384.29. The firm has a 50-day moving average price of $153.24 and a two-hundred day moving average price of $223.34.
Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The company had revenue of $21.45 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the business posted $0.48 EPS. Tesla’s quarterly revenue was up 55.9% compared to the same quarter last year. On average, equities analysts expect that Tesla, Inc. will post 3.6 earnings per share 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.
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