Pennsylvania Trust Co Acquires New Stake in Tesla Inc (TSLA)
Pennsylvania Trust Co acquired a new stake in Tesla Inc (NASDAQ:TSLA) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,351 shares of the electric vehicle producer’s stock, valued at approximately $1,177,000.
Other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in Tesla by 0.8% during the 4th quarter. Baillie Gifford & Co. now owns 13,234,382 shares of the electric vehicle producer’s stock valued at $4,404,403,000 after acquiring an additional 108,931 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tesla by 0.8% in the third quarter. Vanguard Group Inc. now owns 7,036,426 shares of the electric vehicle producer’s stock valued at $1,863,034,000 after purchasing an additional 59,018 shares during the period. Vanguard Group Inc grew its holdings in Tesla by 0.8% in the third quarter. Vanguard Group Inc now owns 7,036,426 shares of the electric vehicle producer’s stock valued at $1,863,034,000 after purchasing an additional 59,018 shares during the period. Jennison Associates LLC grew its holdings in Tesla by 10.5% in the fourth quarter. Jennison Associates LLC now owns 5,322,358 shares of the electric vehicle producer’s stock valued at $1,771,281,000 after purchasing an additional 505,076 shares during the period. Finally, Norges Bank purchased a new stake in Tesla in the fourth quarter valued at approximately $470,949,000. 59.50% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on TSLA shares. Jefferies Financial Group restated a “buy” rating and issued a $450.00 target price on shares of Tesla in a report on Wednesday, March 27th. Oppenheimer upped their price objective on shares of Tesla from $418.00 to $437.00 and gave the stock an “outperform” rating in a report on Thursday, January 31st. Berenberg Bank set a $500.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Friday, March 1st. Canaccord Genuity raised shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the stock from $330.00 to $450.00 in a report on Monday, February 11th. Finally, Goldman Sachs Group reaffirmed a “sell” rating and issued a $225.00 price objective on shares of Tesla in a report on Tuesday, January 22nd. Fifteen analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $315.41.
NASDAQ TSLA opened at $273.26 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.52 and a current ratio of 0.83. The stock has a market cap of $47.20 billion, a price-to-earnings ratio of -47.77, a P/E/G ratio of 6.03 and a beta of 0.35. Tesla Inc has a 1 year low of $247.77 and a 1 year high of $387.46.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.93. The firm had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.09 billion. Tesla had a negative return on equity of 18.50% and a negative net margin of 4.55%. The business’s revenue for the quarter was up 119.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.04) EPS. On average, sell-side analysts expect that Tesla Inc will post 1.26 earnings per share for the current year.
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Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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