Pinnacle Wealth Management Advisory Group LLC Sells 492 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Wealth Management Advisory Group LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,338 shares of the electric vehicle producer’s stock after selling 492 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Tesla were worth $3,314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Wyrmwood Management LLC purchased a new position in shares of Tesla in the fourth quarter worth $25,000. Lam Group Inc. purchased a new stake in Tesla during the 4th quarter valued at $25,000. Mendota Financial Group LLC boosted its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the period. Kathleen S. Wright Associates Inc. boosted its holdings in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the period. Finally, Cordant Inc. bought a new stake in Tesla during the 3rd quarter valued at $53,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. Cantor Fitzgerald started coverage on shares of Tesla in a report on Thursday, May 2nd. They issued an “overweight” rating and a $230.00 price target on the stock. Morgan Stanley decreased their target price on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. The Goldman Sachs Group cut their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Finally, Wedbush reissued an “outperform” rating and set a $275.00 price target on shares of Tesla in a research report on Monday, April 29th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Stock Performance

Shares of TSLA traded down $2.11 during midday trading on Thursday, reaching $172.61. 47,200,506 shares of the stock were exchanged, compared to its average volume of 103,200,867. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market capitalization of $550.49 billion, a price-to-earnings ratio of 44.36, a PEG ratio of 4.74 and a beta of 2.41. The business’s 50-day moving average price is $173.12 and its 200 day moving average price is $204.32.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 302,803 shares of company stock worth $56,124,840. Insiders own 20.90% of the company’s stock.

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.