Pinnacle Financial Partners Inc Sells 5,935 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Financial Partners Inc lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 58.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,297 shares of the electric vehicle producer’s stock after selling 5,935 shares during the period. Pinnacle Financial Partners Inc’s holdings in Tesla were worth $1,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock valued at $1,355,939,000 after purchasing an additional 688,717 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock valued at $57,616,781 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSLA shares. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Piper Sandler raised their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their target price on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Phillip Securities raised Tesla to a “moderate sell” rating in a research report on Friday, October 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $228.24.

Tesla Stock Down 5.8 %

TSLA stock opened at $311.18 on Friday. The firm has a 50-day moving average price of $248.48 and a 200-day moving average price of $218.94. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $998.91 billion, a P/E ratio of 85.25, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.