13,361 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,361 shares of the electric vehicle producer’s stock, valued at approximately $5,396,000.

Other hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in Tesla during the third quarter valued at approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla during the 4th quarter valued at $46,000. PayPay Securities Corp increased its holdings in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Tesla in the 3rd quarter worth $35,000. Finally, Finley Financial LLC purchased a new stake in shares of Tesla during the 4th quarter worth $64,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays lifted their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Benchmark began coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. Robert W. Baird reduced their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $440.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $326.50.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $354.40 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 173.73, a PEG ratio of 5.86 and a beta of 2.34. The firm’s 50 day simple moving average is $402.14 and its 200-day simple moving average is $311.43. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current 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.