Pallas Capital Advisors LLC Acquires 2,980 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pallas Capital Advisors LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 86.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,437 shares of the electric vehicle producer's stock after buying an additional 2,980 shares during the period. Pallas Capital Advisors LLC's holdings in Tesla were worth $2,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer's stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. FMR LLC grew its holdings in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer's stock worth $6,473,008,000 after acquiring an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer's stock valued at $4,328,884,000 after buying an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer's stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ:TSLA traded down $6.95 during mid-day trading on Tuesday, hitting $396.36. 83,986,800 shares of the company's stock traded hands, compared to its average volume of 81,639,867. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $382.71 and a two-hundred day moving average of $284.69. 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 $1.27 trillion, a price-to-earnings ratio of 108.59, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts' expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TSLA. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Sanford C. Bernstein reaffirmed an "underperform" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $296.60.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. 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. Company insiders own 20.70% of the company's stock.

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.