Prudential Financial Inc. Acquires 114,681 Shares of Tesla, Inc. $TSLA

Prudential Financial Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,517,836 shares of the electric vehicle producer’s stock after acquiring an additional 114,681 shares during the period. Tesla comprises approximately 1.0% of Prudential Financial Inc.’s holdings, making the stock its 15th largest position. Prudential Financial Inc.’s holdings in Tesla were worth $799,816,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TSLA. Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in Tesla in the 2nd quarter worth approximately $29,000. Evergreen Private Wealth LLC raised 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 acquiring an additional 81 shares during the period. Glynn Capital Management LLC purchased a new position in Tesla during the second quarter valued at approximately $35,000. Finally, LSV Asset Management boosted its position in shares of Tesla by 400.0% in the second quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 96 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cantor Fitzgerald set a $510.00 price objective on shares of Tesla and gave the company an “overweight” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group decreased their price target on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Mizuho upped their price objective on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. BNP Paribas Exane assumed coverage on Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price on the stock. Finally, Industrial Alliance Securities set a $300.00 price target on Tesla in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $394.31.

Tesla Price Performance

TSLA stock opened at $391.09 on Friday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 260.73, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a fifty day simple moving average of $433.55 and a two-hundred day simple moving average of $364.93. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the firm posted $0.72 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last ninety days. Company insiders own 19.90% of the company’s stock.

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.