Pinnacle Bancorp Inc. Acquires 240 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pinnacle Bancorp Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 92.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 500 shares of the electric vehicle producer’s stock after buying an additional 240 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Tesla were worth $202,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC raised its stake in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $413.82 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 113.38, a PEG ratio of 6.53 and a beta of 2.30. The stock has a 50-day moving average of $385.50 and a 200 day moving average of $285.69. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the firm earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TSLA shares. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research note on Monday, January 6th. KGI Securities upgraded 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. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and upped their price target for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research note on Monday, November 18th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $299.33.

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.