Pinnacle Wealth Management Advisory Group LLC Sells 112 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Wealth Management Advisory Group LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,147 shares of the electric vehicle producer’s stock after selling 112 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Tesla were worth $5,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Spectrum Wealth Advisory Group LLC increased its position in shares of Tesla by 24.2% in the fourth quarter. Spectrum Wealth Advisory Group LLC now owns 1,010 shares of the electric vehicle producer’s stock worth $408,000 after purchasing an additional 197 shares during the last quarter. Valmark Advisers Inc. increased its position in shares of Tesla by 11.3% in the fourth quarter. Valmark Advisers Inc. now owns 16,451 shares of the electric vehicle producer’s stock worth $6,644,000 after purchasing an additional 1,664 shares during the last quarter. Stanich Group LLC bought a new position in shares of Tesla in the fourth quarter worth approximately $312,000. MOKAN Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter worth approximately $624,000. Finally, Lee Financial Co increased its position in shares of Tesla by 14.5% in the fourth quarter. Lee Financial Co now owns 1,421 shares of the electric vehicle producer’s stock worth $574,000 after purchasing an additional 180 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $360.56 on Thursday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a fifty day moving average price of $403.41 and a 200-day moving average price of $311.13. The company has a market capitalization of $1.16 trillion, a PE ratio of 176.75, a PEG ratio of 5.89 and a beta of 2.34.

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

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TSLA shares. Piper Sandler upped their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Stifel Nicolaus cut their target price on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a research note on Thursday, October 24th. Finally, Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $326.50.

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.