Pinebridge Investments L.P. Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Pinebridge Investments L.P. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 388,796 shares of the electric vehicle producer's stock after buying an additional 15,196 shares during the quarter. Tesla accounts for 1.2% of Pinebridge Investments L.P.'s investment portfolio, making the stock its 12th biggest position. Pinebridge Investments L.P.'s holdings in Tesla were worth $157,011,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Alta Advisers Ltd raised its position in Tesla by 18.6% during the fourth quarter. Alta Advisers Ltd now owns 9,372 shares of the electric vehicle producer's stock valued at $3,785,000 after purchasing an additional 1,472 shares in the last quarter. Aldebaran Financial Inc. lifted its position in Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after buying an additional 35 shares during the last quarter. Harvest Investment Services LLC boosted its stake in Tesla by 13.1% in the fourth quarter. Harvest Investment Services LLC now owns 1,595 shares of the electric vehicle producer's stock worth $644,000 after buying an additional 185 shares in the last quarter. Archon Partners LLC bought a new position in Tesla during the fourth quarter valued at approximately $7,269,000. Finally, Nippon Life Global Investors Americas Inc. raised its stake in shares of Tesla by 31.0% during the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 54,970 shares of the electric vehicle producer's stock worth $22,199,000 after acquiring an additional 13,000 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Benchmark restated a "buy" rating and issued a $350.00 target price on shares of Tesla in a report on Wednesday. HSBC lowered their price target on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Raymond James lowered shares of Tesla to an "outperform" rating in a report on Tuesday. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a "buy" rating in a research note on Thursday. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $287.46.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 9.8 %

TSLA stock traded up $25.44 during midday trading on Friday, hitting $284.95. The company's stock had a trading volume of 166,882,151 shares, compared to its average volume of 96,138,436. The firm's 50-day moving average is $265.36 and its 200-day moving average is $322.18. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $158.36 and a 12 month high of $488.54. The company has a market cap of $916.55 billion, a PE ratio of 139.68, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the business earned $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.