Pallas Capital Advisors LLC Has $900,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Pallas Capital Advisors LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 37.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,457 shares of the electric vehicle producer’s stock after acquiring an additional 947 shares during the period. Pallas Capital Advisors LLC’s holdings in Tesla were worth $900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Orrstown Financial Services Inc. grew its stake in shares of Tesla by 67.0% in the 3rd quarter. Orrstown Financial Services Inc. now owns 3,490 shares of the electric vehicle producer’s stock valued at $913,000 after purchasing an additional 1,400 shares during the period. Nisa Investment Advisors LLC grew its position in Tesla by 2.1% in the third quarter. Nisa Investment Advisors LLC now owns 571,269 shares of the electric vehicle producer’s stock valued at $149,461,000 after acquiring an additional 12,009 shares during the period. Taylor & Morgan Wealth Management LLC lifted its holdings in shares of Tesla by 12.8% during the third quarter. Taylor & Morgan Wealth Management LLC now owns 1,714 shares of the electric vehicle producer’s stock valued at $448,000 after acquiring an additional 194 shares during the period. TCP Asset Management LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at $224,000. Finally, Concord Wealth Partners grew its holdings in shares of Tesla by 1,059.4% in the 3rd quarter. Concord Wealth Partners now owns 1,542 shares of the electric vehicle producer’s stock worth $403,000 after purchasing an additional 1,409 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % 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, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,297 shares of company stock worth $3,065,866 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TSLA shares. Mizuho upped their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. TD Cowen lifted their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Citigroup decreased their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Guggenheim upped their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. Finally, China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research report on Friday, July 5th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $219.45.

Tesla Stock Down 1.1 %

NASDAQ:TSLA opened at $259.52 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.54. The stock has a 50-day moving average price of $232.09 and a two-hundred day moving average price of $209.16. The stock has a market cap of $833.07 billion, a price-to-earnings ratio of 71.10, a PEG ratio of 7.59 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. 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 previous year, the firm earned $0.53 EPS. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share 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.