Prudential PLC Sells 39,794 Shares of Tesla, Inc. $TSLA

Prudential PLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,011 shares of the electric vehicle producer’s stock after selling 39,794 shares during the period. Tesla makes up approximately 0.9% of Prudential PLC’s holdings, making the stock its 17th largest position. Prudential PLC’s holdings in Tesla were worth $114,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Tesla by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after acquiring an additional 6,538,720 shares during the period. State Street Corp lifted its stake in shares of Tesla by 0.3% during the 3rd quarter. State Street Corp now owns 113,762,849 shares of the electric vehicle producer’s stock valued at $50,592,614,000 after buying an additional 344,162 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Tesla by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock valued at $29,426,070,000 after buying an additional 375,946 shares in the last quarter. Capital World Investors lifted its stake in shares of Tesla by 5.8% during the 3rd quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock valued at $19,583,547,000 after buying an additional 2,403,019 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Tesla during the 4th quarter valued at $17,128,100,000. Institutional investors own 66.20% of the company’s stock.

Key Stories 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

Tesla Stock Down 1.2%

Shares of TSLA stock opened at $418.45 on Friday. The stock has a market cap of $1.57 trillion, a P/E ratio of 383.90, a PEG ratio of 16.73 and a beta of 1.80. Tesla, Inc. has a 52 week low of $273.21 and a 52 week high of $498.83. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $395.23 and its two-hundred day simple moving average is $416.24.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Phillip Securities lowered 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. Glj Research restated a “sell” rating on shares of Tesla in a research note on Tuesday, April 21st. Benchmark reiterated a “buy” rating on shares of Tesla in a research note on Wednesday, February 11th. Tigress Financial started coverage on shares of Tesla in a research note on Monday, April 27th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of Tesla in a research note on Tuesday. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $395.20.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 55,218 shares of company stock worth $20,609,455 over the last 90 days. Corporate insiders own 19.90% of the company’s stock.

Tesla 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.