Pilgrim Partners Asia Pte Ltd Buys Shares of 28,160 Tesla, Inc. (NASDAQ:TSLA)

Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,160 shares of the electric vehicle producer’s stock, valued at approximately $11,372,000. Tesla makes up approximately 9.9% of Pilgrim Partners Asia Pte Ltd’s holdings, making the stock its 2nd biggest holding.

Several other institutional investors have also recently made changes to their positions in TSLA. Norges Bank purchased a new position in Tesla during the 4th quarter valued at about $14,420,248,000. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the period. Proficio Capital Partners LLC raised its stake in Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after buying an additional 4,374,746 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after buying an additional 3,624,910 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 10.4 %

TSLA stock opened at $239.43 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $770.13 billion, a P/E ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. The company’s 50-day simple moving average is $305.98 and its 200-day simple moving average is $322.90.

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

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated 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 sale, 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 SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. UBS Group reduced their price target on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. Benchmark initiated coverage on shares of Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target on the stock. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. Finally, Glj Research restated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Eight investment 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 company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $312.65.

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.