Pennsylvania Capital Management Inc. ADV Acquires Shares of 2,233 Tesla, Inc. (NASDAQ:TSLA)

Pennsylvania Capital Management Inc. ADV acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel reports. The fund acquired 2,233 shares of the electric vehicle producer’s stock, valued at approximately $902,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares during the last quarter. Mendota Financial Group LLC purchased a new position in shares of Tesla during the third quarter valued at approximately $64,000. Finally, Finley Financial LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TSLA shares. Wells Fargo & Company boosted their price objective on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Stifel Nicolaus boosted their price objective on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $322.29.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The transaction 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 the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 664,776 shares of company stock worth $239,746,862. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

TSLA opened at $361.62 on Friday. The stock has a 50-day moving average price of $407.94 and a 200-day moving average price of $302.76. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.16 trillion, a P/E ratio of 177.27, a PEG ratio of 6.79 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities analysts predict that Tesla, Inc. will post 2.82 earnings per share for the current fiscal 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.