Pinnacle Wealth Planning Services Inc. Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Wealth Planning Services Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.6% during the 4th quarter, HoldingsChannel reports. The fund owned 14,836 shares of the electric vehicle producer’s stock after selling 3,382 shares during the period. Tesla accounts for 0.1% of Pinnacle Wealth Planning Services Inc.’s portfolio, making the stock its 17th largest position. Pinnacle Wealth Planning Services Inc.’s holdings in Tesla were worth $5,991,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter valued at approximately $46,000. PayPay Securities Corp raised its holdings in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Finally, Finley Financial LLC purchased a new position in Tesla in the fourth quarter valued at approximately $64,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $263.45 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a market cap of $847.39 billion, a price-to-earnings ratio of 129.14, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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 fifty day moving average of $371.15 and a 200-day moving average of $317.75.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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 anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on TSLA. Stifel Nicolaus cut their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Guggenheim reiterated a “sell” rating on shares of Tesla in a research note on Tuesday, February 25th. Benchmark assumed coverage on shares of Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective on the stock. Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $313.15.

About Tesla

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.