WNY Asset Management LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA – Free Report) in the first quarter, HoldingsChannel reports. The fund acquired 2,683 shares of the electric vehicle producer’s stock, valued at approximately $997,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after purchasing an additional 6,538,720 shares during the period. State Street Corp increased its holdings 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 valued at $51,647,164,000 after buying an additional 1,080,085 shares during the period. Geode Capital Management LLC increased its holdings 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 valued at $29,426,070,000 after buying an additional 375,946 shares during the period. Norges Bank bought a new position in Tesla in the fourth quarter worth approximately $17,128,100,000. Finally, Amundi raised its stake in Tesla by 14.0% in the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock worth $8,243,513,000 after buying an additional 2,727,141 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.
Tesla News Roundup
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Reports that Tesla could separate or sell its China operations to facilitate a potential merger with SpaceX have fueled speculation that investors could gain exposure to a broader artificial-intelligence, robotics and space conglomerate. Elon Musk called the China-sale report “fake news,” however, making the potential transaction highly uncertain. Tesla reportedly might sell its China business ahead of a SpaceX merger
- Positive Sentiment: Tesla’s production of its 10 millionth electric vehicle provides a notable scale milestone and reinforces its long-term manufacturing credentials. Rising global EV demand and higher gasoline prices could also support industry growth. Tesla made its 10 millionth EV
- Positive Sentiment: A broad technology rally, stronger results from Microsoft and Amazon, and an oversold condition helped improve sentiment toward Tesla after its post-earnings selloff. Reports also cited encouraging European safety data for supervised Full Self-Driving. Why is Tesla stock rising
- Neutral Sentiment: Speculation about Tesla and SpaceX merging remains a major valuation catalyst, but no deal has been confirmed. A transaction could expand Tesla’s AI and autonomy narrative while also creating substantial regulatory, geopolitical and execution complexities. A Tesla/SpaceX merger may be on the horizon
- Negative Sentiment: The National Highway Traffic Safety Administration opened a preliminary investigation into approximately 1.2 million Tesla vehicles over reported suspension failures that could cause loss of steering control. Potential recalls, repair costs and additional scrutiny pose risks. US auto safety regulator probes Tesla vehicles
- Negative Sentiment: Investors continue to question Tesla’s robotaxi outlook after Elon Musk missed several previously announced timelines. Delays weaken the near-term case for the company’s exceptionally high valuation and increase pressure on the core EV business. Elon Musk has missed his own robotaxi timelines
- Negative Sentiment: Tesla’s latest quarter showed an EPS miss, sharply lower margins and negative cash flow while capital spending on AI and autonomy is rising. The combination of weaker current earnings and heavy investment is making investors less tolerant of execution setbacks. Tesla after a rough quarter
Tesla Stock Up 0.8%
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). The company had revenue of $28.24 billion for the quarter, compared to analyst estimates of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. Analysts anticipate that Tesla, Inc. will post 0.89 EPS for the current year.
Analyst Ratings Changes
Several analysts have issued reports on TSLA shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Tuesday, July 21st. Glj Research reissued a “sell” rating on shares of Tesla in a research report on Tuesday, July 21st. William Blair restated a “market perform” rating on shares of Tesla in a research note on Thursday, July 2nd. Morgan Stanley dropped their price objective on Tesla from $417.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nineteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $402.24.
Read Our Latest Analysis on Tesla
Insider Buying and Selling at Tesla
In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is owned by company insiders.
About Tesla
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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