Peregrine Asset Advisers Inc. Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Peregrine Asset Advisers Inc. lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,910 shares of the electric vehicle producer’s stock after selling 330 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Tesla were worth $2,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TSLA. Lloyd Advisory Services LLC. purchased a new position in Tesla during the fourth quarter valued at $220,000. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of Tesla in the fourth quarter worth about $291,000. Blackston Financial Advisory Group LLC lifted its position in shares of Tesla by 1.3% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock valued at $875,000 after buying an additional 27 shares in the last quarter. Capital Advisory Group Advisory Services LLC grew its stake in shares of Tesla by 10.6% during the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 2,774 shares of the electric vehicle producer’s stock valued at $1,120,000 after acquiring an additional 266 shares during the period. Finally, Lane & Associates LLC increased its holdings in Tesla by 29.2% in the 4th quarter. Lane & Associates LLC now owns 1,496 shares of the electric vehicle producer’s stock worth $605,000 after acquiring an additional 338 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TSLA shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a report on Tuesday, February 18th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Finally, Wedbush set a $328.50 price objective on Tesla in a research note on Wednesday, February 12th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $319.57.

Tesla Stock Down 2.2 %

Shares of NASDAQ TSLA opened at $330.53 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a 50-day simple moving average of $397.52 and a two-hundred day simple moving average of $314.96. The company has a market cap of $1.06 trillion, a P/E ratio of 162.03, a PEG ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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%. Research analysts anticipate that Tesla, Inc. will post 2.56 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.