Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,511 shares of the electric vehicle producer’s stock after selling 273 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Tesla were worth $872,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in Tesla during the 4th quarter valued at approximately $3,459,540,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Tesla by 180,125.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after purchasing an additional 26,836,879 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Tesla by 203.9% during the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after purchasing an additional 13,558,882 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Tesla by 26.3% during the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after purchasing an additional 5,292,464 shares during the period. Finally, State Street Corp lifted its holdings in shares of Tesla by 4.4% during the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after purchasing an additional 4,431,570 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $175.22 on Tuesday. Tesla, Inc. has a 1 year low of $152.37 and a 1 year high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock has a fifty day moving average price of $186.33 and a two-hundred day moving average price of $220.38. The firm has a market cap of $558.04 billion, a P/E ratio of 40.65, a PEG ratio of 3.97 and a beta of 2.40.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,598 shares of company stock valued at $36,952,434. 20.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on TSLA shares. Canaccord Genuity Group cut their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Morgan Stanley reissued an “overweight” rating and set a $320.00 price target on shares of Tesla in a report on Wednesday, March 27th. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. UBS Group cut their target price on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price target on shares of Tesla in a report on Wednesday, March 27th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $204.63.

View Our Latest Stock Report on Tesla

About Tesla

(Free Report)

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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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