Pallas Capital Advisors LLC Acquires 3,660 Shares of Tesla, Inc. $TSLA

Key Points

• Pallas Capital Advisors LLC has increased its stake in Tesla by 80.7%, now owning 8,195 shares valued at approximately $2.6 million.
• Several institutional investors have also raised their positions in Tesla, with total institutional ownership reaching 66.20% of the stock.
• In the latest earnings report, Tesla missed earnings estimates, posting $0.40 earnings per share, falling short of the expected $0.43, and reported a revenue decline of 11.8% year-over-year.

Pallas Capital Advisors LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 80.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,195 shares of the electric vehicle producer's stock after purchasing an additional 3,660 shares during the quarter. Pallas Capital Advisors LLC's holdings in Tesla were worth $2,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. increased its position in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in shares of Tesla in the first quarter valued at about $3,247,619,000. GAMMA Investing LLC boosted its position in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Amundi boosted its position in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TSLA shares. China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Mizuho dropped their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $320.00 to $548.00 in a research report on Friday. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, Guggenheim reissued a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and an average price target of $317.70.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 208,606 shares of company stock valued at $77,360,462. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Up 2.2%

Shares of NASDAQ TSLA traded up $9.22 during trading on Friday, reaching $426.07. 92,721,496 shares of the stock were exchanged, compared to its average volume of 86,324,392. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The business's 50-day moving average price is $340.68 and its 200 day moving average price is $308.35. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla 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.