Tesla, Inc. $TSLA Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 583,941 shares of the electric vehicle producer’s stock after buying an additional 59,349 shares during the period. PNC Financial Services Group Inc.’s holdings in Tesla were worth $185,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in TSLA. Comprehensive Financial Planning Inc. PA lifted its stake in shares of Tesla by 16.7% in the 2nd quarter. Comprehensive Financial Planning Inc. PA now owns 3,214 shares of the electric vehicle producer’s stock valued at $1,021,000 after purchasing an additional 461 shares during the last quarter. Bouchey Financial Group Ltd lifted its stake in Tesla by 10.0% during the 2nd quarter. Bouchey Financial Group Ltd now owns 3,213 shares of the electric vehicle producer’s stock worth $1,021,000 after acquiring an additional 293 shares in the last quarter. Apex Wealth Management LLC lifted its position in shares of Tesla by 2.0% during the second quarter. Apex Wealth Management LLC now owns 12,903 shares of the electric vehicle producer’s stock worth $4,099,000 after purchasing an additional 247 shares in the last quarter. Beck Bode LLC acquired a new stake in Tesla during the 2nd quarter worth approximately $444,000. Finally, KBC Group NV increased its position in shares of Tesla by 53.2% during the second quarter. KBC Group NV now owns 1,335,216 shares of the electric vehicle producer’s stock worth $424,145,000 after acquiring an additional 463,767 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA stock opened at $430.60 on Thursday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company’s fifty day simple moving average is $427.33 and its 200-day simple moving average is $359.18. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.43 trillion, a PE ratio of 287.07, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last quarter. Company insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TSLA shares. TD Cowen boosted their price target on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Tesla in a report on Thursday, October 23rd. Melius began coverage on Tesla in a research report on Monday, October 13th. They set a “buy” rating and a $520.00 price objective for the company. Finally, Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and ten have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $391.08.

About Tesla

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.