Prudential PLC Sells 38,537 Shares of Tesla, Inc. (NASDAQ:TSLA)

Prudential PLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,015 shares of the electric vehicle producer's stock after selling 38,537 shares during the quarter. Tesla accounts for 0.5% of Prudential PLC's portfolio, making the stock its 17th largest position. Prudential PLC's holdings in Tesla were worth $103,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. World Investment Advisors LLC boosted its holdings in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock worth $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management raised its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after acquiring an additional 1,359 shares in the last quarter. Stephens Consulting LLC lifted its holdings in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after purchasing an additional 891 shares during the last quarter. MML Investors Services LLC boosted its position in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock worth $80,944,000 after purchasing an additional 9,919 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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Tesla Price Performance

Shares of NASDAQ:TSLA traded down $10.74 during midday trading on Monday, reaching $228.69. The company's stock had a trading volume of 110,308,387 shares, compared to its average volume of 94,352,562. The business's fifty day simple moving average is $305.98 and its 200-day simple moving average is $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, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market capitalization of $735.59 billion, a P/E ratio of 111.61, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the 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 completion of the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,228 shares of company stock valued at $122,791,123 over the last 90 days. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TSLA shares. Wedbush decreased their price objective on shares of Tesla from $550.00 to $315.00 and set an "outperform" rating for the company in a report on Monday. Morgan Stanley lowered their price target on Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Glj Research reissued a "buy" rating on shares of Tesla in a research report on Tuesday, March 11th. New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 target price on the stock in a report on Monday, January 6th. Finally, Barclays upped their price target on Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 15th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average price target of $305.31.

About Tesla

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.