Pallas Capital Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 86.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,437 shares of the electric vehicle producer’s stock after purchasing an additional 2,980 shares during the period. Pallas Capital Advisors LLC’s holdings in Tesla were worth $2,600,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter worth $29,000. Clean Yield Group grew its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter valued at $35,000. Finally, M&R Capital Management Inc. lifted its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on TSLA. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and upped their target price for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Evercore ISI lifted their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Stifel Nicolaus increased their price objective on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Canaccord Genuity Group boosted their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $296.60.
Tesla Trading Up 2.2 %
Shares of TSLA opened at $403.31 on Tuesday. The stock’s 50-day moving average price is $379.81 and its 200 day moving average price is $283.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 110.50, a P/E/G ratio of 10.80 and a beta of 2.30.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the company posted $0.53 earnings per share. Tesla’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.
Insider Activity
In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % 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 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 621,886 shares of company stock worth $213,451,751. Corporate insiders own 20.70% of the company’s stock.
About Tesla
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.
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