Peregrine Asset Advisers Inc. Sells 17,392 Shares of Tesla, Inc. (NASDAQ:TSLA)

Peregrine Asset Advisers Inc. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 71.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,115 shares of the electric vehicle producer’s stock after selling 17,392 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Tesla were worth $1,768,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Apollon Wealth Management LLC raised its position in shares of Tesla by 21.6% in the fourth quarter. Apollon Wealth Management LLC now owns 78,534 shares of the electric vehicle producer’s stock valued at $19,514,000 after purchasing an additional 13,942 shares during the period. Fielder Capital Group LLC bought a new position in Tesla during the fourth quarter worth about $269,000. Machina Capital S.A.S. increased its position in Tesla by 43.4% during the fourth quarter. Machina Capital S.A.S. now owns 1,200 shares of the electric vehicle producer’s stock worth $298,000 after acquiring an additional 363 shares during the period. Maryland State Retirement & Pension System increased its position in Tesla by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 214,516 shares of the electric vehicle producer’s stock worth $53,303,000 after acquiring an additional 2,286 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its position in Tesla by 19.1% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 14,154 shares of the electric vehicle producer’s stock worth $3,517,000 after acquiring an additional 2,274 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Citigroup raised their price target on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. China Renaissance started coverage on shares of Tesla in a research note on Monday, February 26th. They issued a “hold” rating on the stock. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $185.90.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is owned by insiders.

Tesla Stock Up 2.0 %

Shares of NASDAQ TSLA traded up $3.57 during trading on Monday, hitting $184.76. The stock had a trading volume of 84,172,375 shares, compared to its average volume of 104,452,320. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market capitalization of $589.24 billion, a PE ratio of 47.13, a PEG ratio of 4.74 and a beta of 2.41. The firm has a fifty day moving average of $173.56 and a two-hundred day moving average of $204.56.

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.