Pitcairn Co. Has $6.54 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Pitcairn Co. grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,199 shares of the electric vehicle producer's stock after purchasing an additional 1,699 shares during the period. Pitcairn Co.'s holdings in Tesla were worth $6,542,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TSLA. Vanguard Group Inc. increased its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after buying an additional 3,571,793 shares during the period. Geode Capital Management LLC increased its stake in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter worth $14,420,248,000. Charles Schwab Investment Management Inc. boosted its position in Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock valued at $6,996,871,000 after purchasing an additional 780,026 shares during the last quarter. Finally, Amundi grew its stake in Tesla by 1.2% in the fourth quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer's stock valued at $5,117,345,000 after purchasing an additional 159,508 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. The Goldman Sachs Group reduced their price target on Tesla from $320.00 to $275.00 and set a "neutral" rating for the company in a report on Thursday. Mizuho decreased their target price on shares of Tesla from $515.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Benchmark began coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a "buy" rating and a $475.00 target price on the stock. Finally, New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $312.65.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 477,011 shares of the company's stock, valued at approximately $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 477,228 shares of company stock worth $166,849,043 over the last three months. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of Tesla stock traded down $15.48 during trading on Thursday, hitting $267.28. 135,622,518 shares of the company's stock traded hands, compared to its average volume of 94,233,690. Tesla, Inc. has a twelve month low of $138.80 and a twelve month 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 $859.71 billion, a PE ratio of 131.02, a PEG ratio of 5.86 and a beta of 2.50. The firm's fifty day moving average price is $309.32 and its 200 day moving average price is $322.81.

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