Prudential PLC Trims Stake in Tesla, Inc. $TSLA

Prudential PLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 255,011 shares of the electric vehicle producer’s stock after selling 39,794 shares during the period. Tesla makes up 0.9% of Prudential PLC’s portfolio, making the stock its 17th biggest position. Prudential PLC’s holdings in Tesla were worth $114,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Networth Advisors LLC purchased a new stake in Tesla in the 4th quarter worth about $26,000. Davidson Capital Management Inc. raised its position in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 27 shares during the period. Turning Point Benefit Group Inc. purchased a new stake in Tesla in the 3rd quarter worth about $30,000. Prism Advisors Inc. purchased a new stake in Tesla in the 4th quarter worth about $30,000. Finally, Texas Capital Bancshares Inc TX purchased a new stake in Tesla in the 3rd quarter worth about $31,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $418.45 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. The company has a market capitalization of $1.57 trillion, a P/E ratio of 383.90, a P/E/G ratio of 16.73 and a beta of 1.80. The company’s 50-day simple moving average is $395.23 and its two-hundred day simple moving average is $416.24. Tesla, Inc. has a one year low of $273.21 and a one year high of $498.83.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the prior year, the firm earned $0.27 EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 1.2 EPS for the current year.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla expanded its unsupervised Robotaxi service area in Austin, a sign that its autonomous ride-hailing push is still advancing and could support the long-term AI/robotics story. Reuters: Tesla rolls out unsupervised robotaxis in Austin
• Positive Sentiment: Tesla reported a strong rebound in China-made EV sales in May, with Shanghai deliveries jumping sharply as the domestic market showed signs of recovery, which may help near-term demand sentiment. CNBC: Tesla’s China-made EV sales jump nearly 40% in May
• Positive Sentiment: Global EV sales rose in April and were led by Tesla, reinforcing that the broader EV market is still growing. TipRanks: Global Electric Vehicle Sales Rose 16% in April
• Neutral Sentiment: News around SpaceX’s massive IPO and speculation about a possible future Tesla-SpaceX linkage is stirring investor attention, but it is mostly indirect and highly speculative for TSLA in the near term. CNBC: SpaceX targets $135 IPO price
• Negative Sentiment: Several reports highlighted that Tesla’s stock is being dragged by weakness in tech stocks overall, especially after Broadcom’s disappointing results weighed on the sector. Yahoo Finance: Sector Update: Tech Stocks Fall Thursday Afternoon
• Negative Sentiment: Analysts and commentators continue to question Tesla’s rich valuation, arguing that the stock price still reflects ambitious AI, robotaxi, and robotics expectations that have not yet been fully proven in financial results. 247WallSt: Buy, Hold, or Sell: Is Tesla Stock a Sell Above $400?
• Negative Sentiment: Competitive and legal concerns are also lingering, including scrutiny over Tesla’s FSD claims in China and new competition in robotics and EVs, which can pressure sentiment. Yahoo Finance: Tesla Faces China FSD Lawsuit

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. This represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 55,218 shares of company stock worth $20,609,455. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research report on Tuesday, April 21st. President Capital increased their price objective on shares of Tesla from $424.00 to $428.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Roth Mkm restated a “buy” rating on shares of Tesla in a research note on Thursday, April 23rd. JPMorgan Chase & Co. restated a “sell” rating on shares of Tesla in a research note on Tuesday. Finally, Phillip Securities dropped their target price on shares of Tesla from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Wednesday, May 13th. Nineteen research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $395.20.

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.