Pitcairn Co. Purchases 1,699 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pitcairn Co. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,199 shares of the electric vehicle producer’s stock after purchasing an additional 1,699 shares during the quarter. Pitcairn Co.’s holdings in Tesla were worth $6,542,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Grant Private Wealth Management Inc bought a new position in shares of Tesla during the 4th quarter worth about $3,604,000. Spahn Wealth & Retirement LLC bought a new position in Tesla during the fourth quarter worth about $7,815,000. Arete Wealth Advisors LLC boosted its holdings in Tesla by 30.3% during the fourth quarter. Arete Wealth Advisors LLC now owns 20,468 shares of the electric vehicle producer’s stock valued at $8,312,000 after purchasing an additional 4,763 shares in the last quarter. Motley Fool Asset Management LLC grew its stake in shares of Tesla by 14.1% in the 4th quarter. Motley Fool Asset Management LLC now owns 146,719 shares of the electric vehicle producer’s stock valued at $59,251,000 after purchasing an additional 18,150 shares during the period. Finally, World Investment Advisors raised its holdings in shares of Tesla by 15.6% in the 4th quarter. World Investment Advisors now owns 24,538 shares of the electric vehicle producer’s stock worth $9,909,000 after buying an additional 3,319 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on TSLA. Truist Financial upped their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Stifel Nicolaus dropped their target price on shares of Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research report on Monday. Cantor Fitzgerald upgraded shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target on the stock in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada dropped their price objective on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $317.75.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 5.3 %

Shares of Tesla stock opened at $282.76 on Thursday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The business has a fifty day simple moving average of $312.22 and a 200 day simple moving average of $323.20. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $909.50 billion, a PE ratio of 138.61, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

About Tesla

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.