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

Peregrine Asset Advisers Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,720 shares of the electric vehicle producer’s stock after buying an additional 284 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Tesla were worth $1,817,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC purchased a new position in Tesla during the 2nd quarter worth approximately $29,000. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter worth approximately $27,000. Chelsea Counsel Co. grew its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Evergreen Private Wealth LLC grew its stake in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the last quarter. Finally, Centennial Bank AR grew its stake in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.7%

TSLA opened at $456.56 on Monday. The business has a 50 day simple moving average of $410.52 and a 200-day simple moving average of $348.87. The stock has a market capitalization of $1.52 trillion, a P/E ratio of 304.37, a P/E/G ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

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

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Thursday. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research report on Monday, October 20th. Piper Sandler increased their price objective on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $390.27.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction 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 approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

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.