Pilgrim Partners Asia Pte Ltd Purchases New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Pilgrim Partners Asia Pte Ltd bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,160 shares of the electric vehicle producer's stock, valued at approximately $11,372,000. Tesla comprises 9.9% of Pilgrim Partners Asia Pte Ltd's investment portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $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% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the fourth quarter valued at about $38,000. Delos Wealth Advisors LLC increased its holdings 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 valued at $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC purchased a new stake in Tesla in the fourth quarter valued at $44,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TSLA shares. Evercore ISI lifted their price target on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a research note on Friday, January 3rd. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $404.00 target price on shares of Tesla in a research report on Monday, March 17th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Monday, February 10th. Finally, Truist Financial lowered their price objective on shares of Tesla from $373.00 to $280.00 and set a "hold" rating for the company in a research note on Thursday. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $305.31.

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Tesla Stock Down 2.6 %

TSLA traded down $6.14 during trading on Monday, hitting $233.29. The company had a trading volume of 181,900,757 shares, compared to its average volume of 94,623,863. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. 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 company has a market cap of $750.38 billion, a PE ratio of 114.36, a P/E/G ratio of 5.86 and a beta of 2.58. The business has a 50-day moving average of $305.98 and a 200-day moving average of $324.24.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company's stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,228 shares of company stock valued at $122,791,123 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

Tesla Company 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.