Pitcairn Co. Has $3.79 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Pitcairn Co. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.4% during the third quarter, Holdings Channel reports. The institutional investor owned 14,500 shares of the electric vehicle producer’s stock after selling 1,160 shares during the period. Pitcairn Co.’s holdings in Tesla were worth $3,794,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after acquiring an additional 331 shares during the period. 1832 Asset Management L.P. lifted its stake in Tesla by 23.5% in the 1st quarter. 1832 Asset Management L.P. now owns 8,760 shares of the electric vehicle producer’s stock valued at $1,540,000 after purchasing an additional 1,669 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Tesla by 12.5% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,360 shares of the electric vehicle producer’s stock valued at $239,000 after purchasing an additional 151 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its stake in Tesla by 9.9% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 14,558 shares of the electric vehicle producer’s stock valued at $2,559,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Wick Capital Partners LLC lifted its stake in Tesla by 4.2% in the 1st quarter. Wick Capital Partners LLC now owns 2,151 shares of the electric vehicle producer’s stock valued at $378,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Roth Mkm restated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Piper Sandler increased their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research report on Thursday, October 24th. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Trading Up 3.8 %

NASDAQ:TSLA opened at $352.56 on Friday. The firm has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.59, a price-to-earnings-growth ratio of 11.03 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business has a fifty day moving average price of $264.07 and a 200-day moving average price of $226.09. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.53.

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

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.