Pinnbrook Capital Management LP Invests $5.40 Million in Tesla, Inc. (NASDAQ:TSLA)

Pinnbrook Capital Management LP purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel reports. The fund purchased 13,361 shares of the electric vehicle producer’s stock, valued at approximately $5,396,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after acquiring an additional 1,022,589 shares during the last quarter. FMR LLC grew its holdings in shares of Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after purchasing an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tesla by 13.7% in 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 period. Charles Schwab Investment Management Inc. increased 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 last quarter. Finally, Jennison Associates LLC raised its stake in Tesla by 11.9% during 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 during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 1.7 %

Shares of NASDAQ:TSLA opened at $354.40 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company’s 50 day moving average is $402.14 and its two-hundred day moving average is $311.43. The company has a market cap of $1.14 trillion, a PE ratio of 173.73, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its 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%. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s 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 completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This trade represents 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 have sold 523,386 shares of company stock valued at $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TSLA. Robert W. Baird cut their price target on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Benchmark assumed coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Truist Financial upped their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Stifel Nicolaus cut their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Piper Sandler upped their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $326.50.

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.