Principal Financial Group Inc. Acquires 194,796 Shares of Tesla, Inc. (NASDAQ:TSLA)

Principal Financial Group Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,650,393 shares of the electric vehicle producer's stock after purchasing an additional 194,796 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Tesla worth $955,052,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TSLA. Integris Wealth Management LLC boosted its stake in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer's stock valued at $804,000 after purchasing an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc grew its stake in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer's stock worth $800,000 after purchasing an additional 43 shares in the last quarter. Echo Wealth Management LLC boosted its holdings in Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer's stock valued at $1,281,000 after purchasing an additional 44 shares in the last quarter. WASHINGTON TRUST Co lifted its position in shares of Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer's stock worth $284,000 after buying an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC boosted its holdings in shares of Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer's stock valued at $568,000 after buying an additional 45 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA traded up $8.36 during midday trading on Thursday, hitting $296.89. 108,924,024 shares of the stock traded hands, compared to its average volume of 94,312,102. The firm has a market capitalization of $953.03 billion, a PE ratio of 81.64, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The business's 50 day moving average price is $237.23 and its two-hundred day moving average price is $213.07. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business's revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities research analysts predict that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLA. JPMorgan Chase & Co. upped their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. Royal Bank of Canada lifted their price target on Tesla from $236.00 to $249.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Roth Mkm restated a "neutral" rating and issued a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. Stifel Nicolaus lifted their price objective on shares of Tesla from $265.00 to $287.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Truist Financial boosted their target price on Tesla from $236.00 to $238.00 and gave the stock a "hold" rating in a research report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and an average target price of $222.03.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at approximately $26,442,856.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at approximately $26,442,856.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock valued at $19,211,821 over the last three months. 20.70% of the stock is currently owned by insiders.

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.