Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,138 shares of the electric vehicle producer’s stock after acquiring an additional 293 shares during the period. Peapack Gladstone Financial Corp’s holdings in Tesla were worth $6,517,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Darden Wealth Group Inc increased its stake in Tesla by 2.3% during the fourth quarter. Darden Wealth Group Inc now owns 2,215 shares of the electric vehicle producer’s stock worth $895,000 after purchasing an additional 50 shares during the period. MIG Capital LLC acquired a new stake in shares of Tesla in the 4th quarter valued at $311,000. Quadrant Capital Group LLC increased its holdings in Tesla by 9.8% in the fourth quarter. Quadrant Capital Group LLC now owns 31,493 shares of the electric vehicle producer’s stock valued at $12,718,000 after buying an additional 2,801 shares during the last quarter. Cascades Capital Asset Management LLC raised its stake in Tesla by 3.7% in the fourth quarter. Cascades Capital Asset Management LLC now owns 1,392 shares of the electric vehicle producer’s stock valued at $562,000 after buying an additional 50 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co lifted its holdings in Tesla by 35.5% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 420,000 shares of the electric vehicle producer’s stock worth $169,613,000 after buying an additional 110,000 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,228 shares of company stock worth $122,791,123 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $239.43 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a market capitalization of $770.13 billion, a P/E ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. The business has a 50 day moving average price of $305.98 and a 200 day moving average price of $324.24. 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 data 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%. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TSLA. Bank of America cut their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Barclays raised their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Stifel Nicolaus reduced their price objective on Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Mizuho lowered their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Finally, Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Eight analysts have rated the stock with a sell rating, nine 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 data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $312.65.

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.