Peregrine Asset Advisers Inc. increased its stake in Tesla Motors, Inc. (NASDAQ:TSLA) by 944.1% during the fourth quarter, Holdings Channel reports. The fund owned 20,120 shares of the electric vehicle producer’s stock after buying an additional 18,193 shares during the period. Tesla Motors comprises about 2.6% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 8th largest position. Peregrine Asset Advisers Inc.’s holdings in Tesla Motors were worth $4,299,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in TSLA. Baillie Gifford & Co. increased its stake in shares of Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock valued at $2,773,818,000 after buying an additional 1,137,759 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Tesla Motors by 4.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,807,714 shares of the electric vehicle producer’s stock worth $572,858,000 after buying an additional 110,714 shares in the last quarter. State Street Corp increased its stake in Tesla Motors by 6.9% in the fourth quarter. State Street Corp now owns 2,271,484 shares of the electric vehicle producer’s stock worth $485,388,000 after buying an additional 146,901 shares in the last quarter. Bamco Inc. NY increased its stake in Tesla Motors by 7.7% in the third quarter. Bamco Inc. NY now owns 1,555,911 shares of the electric vehicle producer’s stock worth $317,452,000 after buying an additional 111,256 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in Tesla Motors by 24.2% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 808,661 shares of the electric vehicle producer’s stock worth $171,663,000 after buying an additional 157,425 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.
Tesla Motors, Inc. (NASDAQ:TSLA) traded up 0.01% on Friday, hitting $269.23. 3,619,739 shares of the company’s stock were exchanged. The stock’s market cap is $40.36 billion. The firm has a 50 day moving average price of $240.46 and a 200-day moving average price of $212.88. Tesla Motors, Inc. has a 52-week low of $154.11 and a 52-week high of $271.18.
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A number of research firms have issued reports on TSLA. Robert W. Baird reissued a “buy” rating and issued a $338.00 price objective on shares of Tesla Motors in a report on Thursday. Vetr downgraded shares of Tesla Motors from a “hold” rating to a “sell” rating and set a $245.98 price objective for the company. in a report on Monday, February 6th. TheStreet raised shares of Tesla Motors from a “d+” rating to a “c-” rating in a report on Wednesday, January 25th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Tesla Motors in a report on Wednesday, February 1st. Finally, J P Morgan Chase & Co reissued an “underweight” rating on shares of Tesla Motors in a report on Saturday, January 21st. Eight analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $251.75.
In related news, Director Kimbal Musk sold 2,500 shares of Tesla Motors stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $212.90, for a total value of $532,250.00. Following the transaction, the director now directly owns 166,846 shares of the company’s stock, valued at $35,521,513.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey B. Straubel sold 33,430 shares of Tesla Motors stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $190.82, for a total transaction of $6,379,112.60. Following the completion of the transaction, the insider now directly owns 359,655 shares in the company, valued at $68,629,367.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,130 shares of company stock worth $9,989,309. 27.70% of the stock is owned by insiders.
Tesla Motors Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world.
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