Pallas Capital Advisors LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Pallas Capital Advisors LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,535 shares of the electric vehicle producer's stock after selling 1,902 shares during the period. Pallas Capital Advisors LLC's holdings in Tesla were worth $1,175,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TSLA. True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. increased its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla in the 4th quarter valued at $38,000. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% 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, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock valued at $273,791,775 in the last ninety days. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSLA. Raymond James cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. Mizuho upped their price target on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, HSBC cut their price target on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research report on Thursday, March 27th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $293.67.

Tesla Trading Up 1.9%

NASDAQ TSLA traded up $6.20 on Friday, reaching $325.31. The stock had a trading volume of 128,417,075 shares, compared to its average volume of 100,836,055. Tesla, Inc. has a 12-month low of $177.00 and a 12-month high of $488.54. The stock has a fifty day moving average price of $299.39 and a two-hundred day moving average price of $332.88. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the company posted $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.