PGIM Custom Harvest LLC Has $2.13 Million Stock Position in Tesla, Inc. $TSLA

PGIM Custom Harvest LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 66.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 8,212 shares of the electric vehicle producer’s stock after acquiring an additional 3,287 shares during the quarter. PGIM Custom Harvest LLC’s holdings in Tesla were worth $2,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Navigoe LLC bought a new position in shares of Tesla in the fourth quarter valued at $37,000. Cherry Tree Wealth Management LLC lifted its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank lifted its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Tesla in the fourth quarter valued at $39,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSLA. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. HSBC reaffirmed a “reduce” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Benchmark reiterated a “buy” rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $303.31.

Tesla Stock Performance

NASDAQ TSLA opened at $323.90 on Thursday. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54. The company has a 50-day simple moving average of $320.96 and a 200 day simple moving average of $304.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.04 trillion, a PE ratio of 187.23, a price-to-earnings-growth ratio of 11.45 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the business posted $0.52 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is currently owned by corporate 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.