Pinnacle Associates Ltd. Purchases 745 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Associates Ltd. raised its position in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 4.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,187 shares of the electric vehicle producer’s stock after purchasing an additional 745 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Tesla were worth $19,598,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Paragon Capital Management Ltd bought a new stake in shares of Tesla in the fourth quarter worth approximately $25,000. AllSquare Wealth Management LLC grew its stake in shares of Tesla by 766.7% in the fourth quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 23 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in shares of Tesla in the fourth quarter worth approximately $32,000. First Financial Corp IN bought a new stake in shares of Tesla in the first quarter worth approximately $32,000. Finally, AlphaCentric Advisors LLC bought a new stake in Tesla during the fourth quarter valued at approximately $33,000. 40.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Tudor, Pickering, Holt & Co. upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Robert W. Baird cut their target price on shares of Tesla from $1,108.00 to $949.00 in a research report on Thursday, July 21st. Tudor Pickering upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. TheStreet upgraded shares of Tesla from a “c+” rating to a “b-” rating in a research report on Wednesday, April 27th. Finally, Jefferies Financial Group lowered their price target on shares of Tesla from $1,250.00 to $1,050.00 and set a “buy” rating on the stock in a report on Thursday, May 26th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $855.21.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $748.11, for a total value of $2,618,385.00. Following the transaction, the senior vice president now directly owns 20,567 shares in the company, valued at $15,386,378.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $748.11, for a total value of $2,618,385.00. Following the completion of the sale, the senior vice president now directly owns 20,567 shares of the company’s stock, valued at $15,386,378.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Vaibhav Taneja sold 1,518 shares of the company’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $718.31, for a total transaction of $1,090,394.58. Following the completion of the sale, the chief accounting officer now directly owns 26,449 shares of the company’s stock, valued at $18,998,581.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,268 shares of company stock worth $53,221,004. Insiders own 25.10% of the company’s stock.

Tesla Trading Up 6.2 %

TSLA stock opened at $824.46 on Thursday. The firm’s fifty day simple moving average is $714.91 and its two-hundred day simple moving average is $850.09. The company has a quick ratio of 1.06, a current ratio of 1.43 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $854.46 billion, a price-to-earnings ratio of 99.33, a price-to-earnings-growth ratio of 2.49 and a beta of 2.11. Tesla, Inc. has a twelve month low of $620.57 and a twelve month high of $1,243.49.

Tesla (NASDAQ:TSLAGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The electric vehicle producer reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.46. The firm had revenue of $16.93 billion for the quarter, compared to analysts’ expectations of $16.92 billion. Tesla had a net margin of 14.17% and a return on equity of 29.04%. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 10.37 earnings per share for the current year.

Tesla Profile

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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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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