Prudential PLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.2% during the first quarter, according to the company's most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,314 shares of the electric vehicle producer's stock after purchasing an additional 8,299 shares during the period. Tesla comprises approximately 0.3% of Prudential PLC's investment portfolio, making the stock its 22nd largest holding. Prudential PLC's holdings in Tesla were worth $68,759,000 at the end of the most recent reporting period.\n\nTesla reported an EPS of $0.40 for the quarter, missing analysts' consensus estimates of $0.43 by $0.03. Revenue for the quarter was $22.50 billion, down 11.8% year-over-year, compared to analysts' expectations of $23.18 billion. The company had a net margin of 6.54% and a return on equity of 7.98%. During the same quarter last year, Tesla earned $0.52 earnings per share.\n\nSeveral other hedge funds have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its position by 86.3%, now owning 95 shares worth $25,000 after purchasing 44 additional shares. First PREMIER Bank increased its stake by 79.2%, now holding 95 shares worth $25,000 after buying 42 additional shares. Newton One Investments LLC increased its position by 250.0%, now owning 105 shares worth $27,000 after purchasing 75 additional shares. Arcadia Investment Management Corp MI acquired a new position worth approximately $27,000. True Wealth Design LLC raised its stake by 79.5%, now owning 70 shares worth $28,000 after buying 31 additional shares.\n\nHedge funds and other institutional investors own 66.20% of Tesla's stock. Tesla's stock traded at $339.03 on Tuesday, with a fifty-day simple moving average of $318.61 and a 200-day simple moving average of $306.24. The stock has a twelve-month low of $194.67 and a twelve-month high of $488.54. Tesla has a market capitalization of $1.09 trillion, a PE ratio of 195.97, a PEG ratio of 11.46, and a beta of 2.33. The company has a current ratio of 2.04, a quick ratio of 1.55, and a debt-to-equity ratio of 0.07.\n\nAnalysts have set varied price targets for Tesla. Bank of America raised its target to $341.00 from $305.00 and gave the stock a 'neutral' rating. Benchmark reaffirmed a 'buy' rating and set a $475.00 target price (up from $350.00). Raymond James Financial downgraded Tesla to 'outperform,' Truist Financial set a $280.00 target price, and China Renaissance reaffirmed a 'hold' rating with a $349.00 target. Ten analysts have a sell rating, fifteen have a hold rating, seventeen have a buy rating, and one has a strong buy rating. The average rating is 'Hold' with a consensus target price of $303.31.\n\nIn insider transactions, SVP sold 15,000 shares at an average price of $323.81, valued at $4,857,150, reducing their position by 18.16%. Director sold 477,572 shares at an average price of $357.30, valued at $170,636,475.60, reducing ownership by 35.83%. Over the last quarter, insiders sold 602,724 shares valued at $214,176,831, representing 20.70% of the company's stock.\n\nTesla 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, automotive regulatory credits, non-warranty after-sales services, used vehicles, body shops, parts, supercharging, retail merchandise, and vehicle insurance services.

Prudential PLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Prudential PLC increased its stake in Tesla, Inc. by 3.2% in the first quarter, owning 265,314 shares worth $68.76 million, which represents approximately 0.3% of its investment portfolio and is its 22nd largest holding. Tesla reported a quarterly EPS of $0.40, below analyst expectations of $0.43, with revenue of $22.50 billion, down 11.8% year-over-year. The company achieved a net margin of 6.54% and a return on equity of 7.98%. Several hedge funds also adjusted their Tesla positions, with Cherry Tree Wealth Management, First PREMIER Bank, Newton One Investments, Arcadia Investment Management Corp MI, and True Wealth Design LLC increasing their holdings. Tesla's stock traded at $339.03, with a market cap of $1.09 trillion, a PE ratio of 195.97, and a beta of 2.33. Analysts have set varied price targets, with Benchmark raising its target to $475.00 and Bank of America to $341.00, while others hold or downgrade. Insiders sold a total of 602,724 shares worth $214.18 million over the quarter, representing 20.70% of Tesla's stock.