OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 15.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,617 shares of the electric vehicle producer’s stock after buying an additional 1,817 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tesla were worth $6,124,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Brighton Jones LLC increased its position in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Bison Wealth LLC increased its position in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after buying an additional 3,558 shares during the last quarter. Sivia Capital Partners LLC increased its position in Tesla by 9.1% during the second quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer’s stock worth $3,855,000 after buying an additional 1,011 shares during the last quarter. Finally, AGP Franklin LLC increased its position in Tesla by 21.2% during the second quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer’s stock worth $1,544,000 after buying an additional 851 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on TSLA. Roth Mkm reissued a “buy” rating on shares of Tesla in a research report on Thursday, April 23rd. TD Cowen restated a “buy” rating and set a $490.00 price objective on shares of Tesla in a report on Thursday, June 4th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, April 23rd. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Thursday. Finally, Piper Sandler restated an “overweight” rating on shares of Tesla in a report on Wednesday, June 10th. Twenty-one investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $404.37.
Insiders Place Their Bets
In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 57,824 shares of company stock valued at $21,657,588 over the last quarter. 19.90% of the stock is owned by corporate insiders.
More Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: SpaceX’s strong debut and rising attention on Musk’s empire have lifted sentiment around Tesla, with some investors viewing TSLA as a beneficiary of growing interest in a potential Tesla-SpaceX combination. Article Title
- Positive Sentiment: Wall Street discussion about Tesla’s AI-driven valuation, including robotaxi and Optimus upside, is keeping bullish expectations alive despite a high valuation. Article Title
- Neutral Sentiment: Rivian’s CEO said his company plans to release Tesla FSD-like self-driving tech later this year, underscoring continued competition in autonomous driving. Article Title
- Negative Sentiment: Reuters reported that Tesla gave European regulators safety data for Full Self-Driving that Swedish and Dutch authorities viewed as misleading, raising the risk of scrutiny or delays for FSD approval in Europe. Article Title
- Negative Sentiment: Additional reports about European regulators questioning Tesla’s FSD data could increase concerns about regulatory hurdles for one of Tesla’s key AI/autonomy growth drivers. Article Title
Tesla Stock Up 1.2%
Shares of TSLA opened at $411.15 on Tuesday. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The stock has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 377.20, a PEG ratio of 16.25 and a beta of 1.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The stock has a fifty day moving average of $399.36 and a 200-day moving average of $415.94.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same period in the prior year, the company earned $0.27 EPS. Tesla’s revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.19 earnings per share for the current fiscal year.
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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