Economy

Tesla Inc. (NASDAQ:TSLA) Shares Sold by Prudential Financial Inc

Tesla Inc. (NASDAQ:TSLA) Shares Sold by Prudential Financial Inc

Tesla Inc. (NASDAQ:TSLA) was downgraded by research analysts at Vetr from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Tuesday. The third largest holder is Price T Rowe Associates Inc /Md/, which now holds $3.42 billion worth of this stock and that ownership represents almost 6.01% of its market capitalization. Price Target plays a critical role when it comes to the analysis of a Stock.

A number of equities research analysts recently issued reports on the company. Robert W. Baird reissued an outperform rating and issued a $368.00 price target on shares of Tesla in a report on Tuesday, June 20th. Equity analyst Cowen & Co. added the stock to its research portfolio setting a rating of "Underperform" and price target of $160.00. Finally, Morgan Stanley reissued an "equal weight" rating and set a $305.00 target price on shares of Tesla in a research note on Monday, June 12th. Guggenheim upped their price objective on shares of Tesla from $320.00 to $380.00 and gave the company a "buy" rating in a report on Monday, May 15th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Tesla now has an average rating of "Hold" and an average price target of $298.96. Tesla, Inc. (NASDAQ:TSLA) is 21.79% above its 200-day moving average, providing a measure of resistance for long positions. The company's stock had a trading volume of 11,559,402 shares. The stock last traded at $327.22 just a bit lower than the 50 day moving average which is $346.84 and a bit higher than the 200 day moving average of $283.13. The Lower end of the earnings estimate is $-2.91, while the higher end of the earnings estimate is $-0.3.

Tesla, Inc. has a 56.93B market cap and its past year revenues were 8.55B. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.56 billion. Equities analysts predict that Tesla will post ($5.75) EPS for the current year.

ILLEGAL ACTIVITY WARNING: This report was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another domain, it was copied illegally and republished in violation of USA and global trademark & copyright laws. The stock was sold at an average price of $307.81, for a total value of $33,582,071.00. (NASDAQ:TSLA) by 9.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. Also, Director Kimbal Musk sold 4,690 shares of the company's stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $315.67, for a total value of $789,175.00. Following the completion of the sale, the director now owns 166,164 shares of the company's stock, valued at $61,095,179.52. Following the completion of the transaction, the director now owns 20,000 shares of the company's stock, valued at approximately $6,235,200.

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Institutional owners hold 66.10% stake in the company while Insiders ownership held at 0.30%.

Large investors have recently modified their holdings of the stock. Crestwood Advisors Group LLC purchased a new stake in shares of Tesla during the first quarter worth about $101,000. The fund owned 2,117 shares of the electric vehicle producer's stock after selling 226 shares during the period.

Tesla Inc TSLA.O Chief Executive Elon Musk on Sunday tweeted pictures of the first Model 3 sedan to roll off the assembly line. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer's stock worth $109,000 after buying an additional 364 shares in the last quarter. Pathstone Family Office LLC purchased a new stake in shares of Tesla during the first quarter worth about $134,000. Focused Wealth Management Inc now owns 3,232 shares of the electric vehicle producer's stock valued at $899,000 after buying an additional 31 shares during the period. Finally, Korea Investment CORP boosted its stake in shares of Tesla by 225.0% in the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer's stock worth $188,630,000 after buying an additional 366,400 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Tesla by 22.1% in the fourth quarter. Macquarie Group Ltd. now owns 48,626 shares of the electric vehicle producer's stock valued at $10,391,000 after buying an additional 8,800 shares in the last quarter. Institutional investors and hedge funds own 63.77% of the company's stock.


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