Angeles Wealth Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 50.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,377 shares of the electric vehicle producer’s stock after purchasing an additional 5,816 shares during the period. Angeles Wealth Management LLC’s holdings in Tesla were worth $6,460,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Networth Advisors LLC acquired a new position in Tesla in the fourth quarter valued at about $26,000. Chapman Financial Group LLC acquired a new stake in Tesla in the 2nd quarter valued at about $26,000. Davidson Capital Management Inc. increased its position in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 27 shares in the last quarter. Friedenthal Financial lifted its position in shares of Tesla by 66.7% during the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 30 shares in the last quarter. Finally, Prism Advisors Inc. bought a new stake in shares of Tesla during the fourth quarter valued at approximately $30,000. 66.20% of the stock is owned by institutional investors and hedge funds.
Key Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla’s stronger-than-expected vehicle deliveries last quarter support the case that demand remains resilient, and the company may also benefit from tighter global emissions rules that could accelerate EV adoption. Tesla’s Delivery Surprise Was Big—Earnings Need to Be Bigger
- Positive Sentiment: Investor interest is high ahead of the July 22 earnings call, with questions focused on robotaxi progress, Optimus, Cybercab, and Elon Musk’s comments, which could provide a catalyst if Tesla offers credible updates. Tesla Q2 Earnings: Elon Musk’s Pay Package, Cybercab and Optimus Lead Top Investor Questions
- Positive Sentiment: Some analysts remain constructive, noting Tesla is positioned to benefit from EV adoption trends and long-term software/autonomy opportunities. Tesla Rides Tightening Global Emission Standards for EV Thrust
Tesla Stock Performance
Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the company earned $0.27 EPS. The firm’s revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 1.3 EPS for the current year.
Analysts Set New Price Targets
TSLA has been the subject of several research analyst reports. BNP Paribas Exane cut shares of Tesla from a “hold” rating to an “underperform” rating in a research report on Friday, June 5th. Morgan Stanley increased their price objective on Tesla from $415.00 to $417.00 and gave the company an “equal weight” rating in a research report on Tuesday. UBS Group boosted their target price on Tesla from $364.00 to $442.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. China Renaissance cut their price target on Tesla from $382.00 to $372.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. Finally, Mizuho decreased their price target on Tesla from $540.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $408.07.
Read Our Latest Report on TSLA
Insider Activity
In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following 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 32,015 shares of company stock worth $12,383,640 in the last three months. Insiders own 19.90% of the company’s stock.
Tesla Company 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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