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

Pinnbrook Capital Management LP acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,361 shares of the electric vehicle producer's stock, valued at approximately $5,396,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla in the third quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the fourth quarter worth approximately $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer's stock worth $49,000 after buying an additional 69 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer's stock valued at $56,000 after purchasing an additional 187 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % 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 worth $195,995,200. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA traded down $16.60 during trading on Friday, hitting $337.80. The company's stock had a trading volume of 73,720,762 shares, compared to its average volume of 75,434,742. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 165.59, a P/E/G ratio of 5.97 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The business's fifty day simple moving average is $402.14 and its 200 day simple moving average is $311.43. 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 - Get Free Report) last issued 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Royal Bank of Canada reissued an "outperform" rating and set a $440.00 target price on shares of Tesla in a research report on Thursday, January 30th. Cantor Fitzgerald reissued a "neutral" rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Phillip Securities downgraded shares of Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. Finally, Wedbush upped their price target on shares of Tesla from $515.00 to $550.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $326.50.

Tesla Company 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.