PNC Financial Services Group Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 494,128 shares of the electric vehicle producer's stock after buying an additional 25,354 shares during the period. PNC Financial Services Group Inc.'s holdings in Tesla were worth $199,549,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Hengehold Capital Management LLC raised its stake in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock valued at $544,000 after acquiring an additional 24 shares during the last quarter. Strategic Investment Advisors MI raised its position in Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock valued at $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC raised its holdings in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock valued at $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD raised its holdings in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after acquiring an additional 25 shares in the last quarter. Finally, Vista Finance LLC raised its holdings in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock valued at $1,417,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.
In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 422,452 shares of company stock worth $153,659,530 in the last ninety days. Company insiders own 20.70% of the company's stock.
Several research analysts have commented on TSLA shares. Wells Fargo & Company upped their price objective on shares of Tesla from $125.00 to $135.00 and gave the stock an "underweight" rating in a report on Thursday, January 30th. UBS Group reissued a "neutral" rating on shares of Tesla in a research note on Tuesday. Benchmark assumed coverage on Tesla in a research report on Wednesday, February 12th. They issued a "buy" rating and a $475.00 target price for the company. Mizuho reissued an "outperform" rating and issued a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Finally, Guggenheim reiterated a "sell" rating on shares of Tesla in a report on Tuesday, February 25th. Nine equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $327.37.
View Our Latest Research Report on TSLA
Shares of NASDAQ TSLA opened at $262.67 on Friday. The stock has a market capitalization of $844.88 billion, a price-to-earnings ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm's 50 day simple moving average is $367.78 and its 200-day simple moving average is $318.03. 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 (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.
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.
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