Pallas Capital Advisors LLC Has $1.18 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Pallas Capital Advisors LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Farther Finance Advisors LLC lifted its position in Tesla by 23.4% in the 1st quarter. Farther Finance Advisors LLC now owns 46,063 shares of the electric vehicle producer's stock valued at $12,366,000 after acquiring an additional 8,734 shares in the last quarter. City Holding Co. raised its holdings in shares of Tesla by 4.4% in the 1st quarter. City Holding Co. now owns 1,484 shares of the electric vehicle producer's stock valued at $385,000 after purchasing an additional 62 shares during the period. Destiny Wealth Partners LLC raised its holdings in shares of Tesla by 25.3% in the 1st quarter. Destiny Wealth Partners LLC now owns 11,840 shares of the electric vehicle producer's stock valued at $3,068,000 after purchasing an additional 2,391 shares during the period. Range Financial Group LLC bought a new stake in shares of Tesla in the 1st quarter valued at about $767,000. Finally, CMH Wealth Management LLC raised its holdings in shares of Tesla by 3.2% in the 1st quarter. CMH Wealth Management LLC now owns 32,575 shares of the electric vehicle producer's stock valued at $8,442,000 after purchasing an additional 1,001 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 2.2%

Shares of TSLA traded down $7.32 during trading hours on Thursday, hitting $319.11. 104,392,972 shares of the stock were exchanged, compared to its average volume of 100,720,943. Tesla, Inc. has a fifty-two week low of $176.92 and a fifty-two week 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 business has a 50-day moving average of $297.32 and a 200-day moving average of $332.97. The firm has a market capitalization of $1.03 trillion, a P/E ratio of 156.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSLA. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and upped their target price for the company from $180.00 to $388.00 in a report on Friday, March 7th. Royal Bank of Canada decreased their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Finally, Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $293.67.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 1,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. This trade represents a 33.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 818,509 shares of company stock worth $273,791,775 over the last three months. 20.70% of the stock is owned by company insiders.

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.