L2 Asset Management LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,345 shares of the electric vehicle producer’s stock after purchasing an additional 2,113 shares during the quarter. L2 Asset Management LLC’s holdings in Tesla were worth $6,901,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares in the last quarter. State Street Corp boosted its stake in Tesla by 0.9% during the fourth quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock worth $51,647,164,000 after buying an additional 1,080,085 shares during the period. Geode Capital Management LLC boosted its stake in Tesla by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock worth $29,426,070,000 after buying an additional 375,946 shares during the period. Capital World Investors boosted its stake in Tesla by 5.8% during the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock worth $19,583,547,000 after buying an additional 2,403,019 shares during the period. Finally, Norges Bank purchased a new position in Tesla during the fourth quarter worth $17,128,100,000. 66.20% of the stock is owned by hedge funds and other institutional investors.
Tesla Stock Up 1.2%
Shares of TSLA opened at $411.15 on Tuesday. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 377.20, a P/E/G ratio of 16.25 and a beta of 1.80. Tesla, Inc. has a 12-month low of $288.77 and a 12-month high of $498.83. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $399.36 and a 200-day moving average price of $415.94.
More Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: SpaceX’s blockbuster IPO has intensified talk that Elon Musk could eventually combine Tesla and SpaceX, with some bullish commentators arguing the two companies’ AI, robotics, and data ambitions could be more valuable together. That speculation has helped support TSLA shares. Forget Robotaxis, Wall Street’s Finally Asking the Real Tesla Question
- Positive Sentiment: Piper Sandler reportedly said Tesla has “cracked” the self-driving challenge, reinforcing the longer-term bull case around Full Self-Driving, robotaxis, and Optimus.
- Neutral Sentiment: Goldman Sachs maintained a Hold rating and a $375 price target, noting that stronger global deliveries offset U.S. softness, which suggests the stock may still have support but not a clear catalyst from this note alone. Tesla Rated Hold as Global Delivery Strength Offsets U.S. Softness; $375 Price Target Reiterated
- Neutral Sentiment: Several market roundups and “stocks to watch” pieces kept Tesla in the spotlight, but they did not add a major new fundamental driver.
- Negative Sentiment: Reuters reported that European regulators in Sweden and the Netherlands said Tesla presented misleading Full Self-Driving safety data while seeking approval in Europe, increasing the risk of regulatory backlash around a key growth product. Exclusive: Tesla presented misleading ‘Full Self-Driving’ safety data to European regulators
- Negative Sentiment: Tesla also faced headlines about FSD scrutiny from Europe, which could slow adoption and raise approval hurdles for its autonomous-driving plans.
Wall Street Analysts Forecast Growth
Several research firms have commented on TSLA. Robert W. Baird dropped their price objective on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. Sanford C. Bernstein raised shares of Tesla from an “underperform” rating to an “outperform” rating in a research note on Friday, June 5th. Erste Group Bank raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research note on Friday, April 24th. Twenty-one equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $404.37.
Read Our Latest Analysis on TSLA
Insiders Place Their Bets
In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the sale, the chief financial officer directly owned 22,039 shares of the company’s stock, valued at $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 57,824 shares of company stock valued at $21,657,588 over the last three months. Insiders own 19.90% of the company’s stock.
Tesla Profile
Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.
Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.
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