Peregrine Asset Advisers Inc. Grows Position in Tesla, Inc. $TSLA

Peregrine Asset Advisers Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,720 shares of the electric vehicle producer’s stock after buying an additional 284 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Tesla were worth $1,817,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter valued at $27,000. Chelsea Counsel Co. increased its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Centennial Bank AR increased its stake in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in Tesla in the second quarter valued at $29,000. Finally, Compass Wealth Management LLC increased its stake in Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TSLA. HSBC upped their target price on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Stifel Nicolaus set a $483.00 price target on Tesla and gave the company a “buy” rating in a research report on Wednesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $390.27.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $456.56 on Monday. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The business has a 50-day moving average of $410.52 and a 200-day moving average of $348.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 304.37, a PEG ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.