First Commonwealth Financial Corp PA Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

First Commonwealth Financial Corp PA bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,221 shares of the electric vehicle producer's stock, valued at approximately $1,301,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Horrell Capital Management Inc. raised its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. raised its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC raised its stake in shares of Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock worth $40,000 after acquiring an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new position in Tesla during the 4th quarter worth $44,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA stock traded down $0.39 during trading on Friday, hitting $241.17. 83,173,157 shares of the company traded hands, compared to its average volume of 95,997,504. 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's 50-day simple moving average is $273.93 and its 200 day simple moving average is $322.21. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a market cap of $775.71 billion, a PE ratio of 118.22, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 75,000 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com lowered Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $425.00 price target on shares of Tesla in a research report on Thursday, April 3rd. Morgan Stanley decreased their price objective on shares of Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Finally, Mizuho decreased their price objective on Tesla from $430.00 to $375.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $292.18.

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.