Prudential PLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Prudential PLC grew its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,860 shares of the electric vehicle producer’s stock after acquiring an additional 3,586 shares during the period. Prudential PLC’s holdings in Tesla were worth $37,983,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Holderness Investments Co. boosted its holdings in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after buying an additional 42 shares in the last quarter. SCS Capital Management LLC boosted its holdings in Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after buying an additional 45 shares in the last quarter. Daymark Wealth Partners LLC boosted its holdings in Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares in the last quarter. Cravens & Co Advisors LLC boosted its holdings in Tesla by 1.2% during the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after buying an additional 48 shares in the last quarter. Finally, Patten & Patten Inc. TN boosted its holdings in Tesla by 1.1% during the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after buying an additional 48 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. Canaccord Genuity Group decreased their price objective on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target on shares of Tesla in a research note on Monday, April 22nd. HSBC decreased their price target on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. Wedbush restated an “outperform” rating and set a $275.00 price objective on shares of Tesla in a research report on Monday, April 29th. Finally, Wells Fargo & Company cut their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $185.90.

Check Out Our Latest Stock Report on TSLA

Tesla Stock Performance

Shares of Tesla stock traded down $0.46 during trading on Friday, reaching $177.48. The company’s stock had a trading volume of 56,244,932 shares, compared to its average volume of 68,096,336. The company has a 50-day moving average price of $172.18 and a two-hundred day moving average price of $197.76. The firm has a market cap of $566.02 billion, a PE ratio of 45.28, a P/E/G ratio of 4.41 and a beta of 2.32. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, analysts forecast that Tesla, Inc. will post 1.87 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,560 shares of company stock valued at $35,725,248. 25.10% of the stock is owned by company insiders.

About Tesla

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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