Pinnacle Wealth Planning Services Inc. Boosts Stake in Tesla, Inc. $TSLA

Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,782 shares of the electric vehicle producer’s stock after acquiring an additional 1,730 shares during the period. Tesla comprises about 0.8% of Pinnacle Wealth Planning Services Inc.’s investment portfolio, making the stock its 18th biggest holding. Pinnacle Wealth Planning Services Inc.’s holdings in Tesla were worth $5,966,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Chelsea Counsel Co. increased its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Tesla in the second quarter worth $29,000. Evergreen Private Wealth LLC raised its holdings in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares in the last quarter. Glynn Capital Management LLC bought a new position in Tesla during the 2nd quarter valued at $35,000. Finally, LSV Asset Management grew its holdings in Tesla by 400.0% during the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Evercore ISI increased their target price on Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Guggenheim reissued a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Finally, Barclays reaffirmed a “negative” rating and issued a $350.00 price objective (up previously from $275.00) on shares of Tesla in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $394.31.

Tesla Price Performance

Shares of TSLA opened at $408.92 on Tuesday. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a fifty day moving average price of $430.92 and a 200 day moving average price of $362.23. The company has a market cap of $1.36 trillion, a P/E ratio of 272.61, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.