Van ECK Associates Corp reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 15.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,461 shares of the electric vehicle producer’s stock after selling 10,514 shares during the quarter. Van ECK Associates Corp’s holdings in Tesla were worth $24,168,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Chapman Financial Group LLC purchased a new stake in Tesla during the 2nd quarter worth $26,000. Friedenthal Financial boosted its position in shares of Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 30 shares during the period. Turning Point Benefit Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at about $30,000. Texas Capital Bancshares Inc TX acquired a new position in Tesla during the 3rd quarter worth approximately $31,000. Finally, Harborfront Financial Group LLC purchased a new position in Tesla in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Tesla News Roundup
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla’s Cybercab rollout remains the primary bullish catalyst. The company has added 45 vehicles to its Austin fleet, while CEO Elon Musk says the redesigned manufacturing process could produce Cybercabs more than five times faster. Lower operating costs could help Tesla compete with Waymo and Uber if the technology scales. 45 Tesla Cybercabs Are Now Roaming Austin
- Positive Sentiment: Slovenia approved Tesla’s supervised Full Self-Driving system, making it the sixth European country to do so. Investors view the approval as a possible step toward an EU-wide authorization and additional software subscription revenue. A potential European launch of Cybercab is also supporting the long-term growth narrative. Slovenia clears Tesla’s FSD driver assistance
- Positive Sentiment: Goldman Sachs estimates Tesla’s Cybercab could operate at a cost advantage of as much as $0.30 per mile versus rival autonomous vehicles if Tesla reaches its targeted production costs, strengthening the potential economics of a large robotaxi network. Tesla Cybercab Could Beat Waymo on Cost
- Neutral Sentiment: Analysts continue to debate whether Tesla can become a successful robotaxi platform or whether Waymo’s operational experience and sensor-heavy approach give it an advantage. The Cybercab’s early fares have varied widely versus Uber, highlighting that the commercial model is not yet proven. Tesla versus Alphabet’s Waymo
- Negative Sentiment: Tesla’s China sales continue to weaken. August domestic sales declined, and the company is offering cash incentives through September 30, suggesting persistent competitive and demand pressure in the world’s largest EV market. Strong exports provide some offset but do not resolve the underlying weakness. Tesla Sales in China Continue Negative Streak
- Negative Sentiment: Regulatory scrutiny remains a major risk. The National Highway Traffic Safety Administration is examining certification and technical data related to nearly 1,000 driverless Cybercabs, raising questions about Tesla’s ability to expand the service quickly and safely. Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Negative Sentiment: Some investors remain bearish because Tesla’s valuation is demanding relative to its modest profitability and slowing core auto business. With a very high earnings multiple, the stock is particularly dependent on successful execution of FSD, robotaxis and other future businesses.
Analysts Set New Price Targets
View Our Latest Report on Tesla
Tesla Price Performance
TSLA opened at $367.81 on Thursday. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 340.57, a price-to-earnings-growth ratio of 18.59 and a beta of 1.84. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83. The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $354.87 and its 200 day moving average price is $381.84.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. 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 prior year, the firm earned $0.33 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 0.88 earnings per share for the current year.
Insider Buying and Selling at Tesla
In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the transaction, the chief financial officer directly owned 25,972 shares in the company, valued at approximately $9,353,296.36. The trade was a 9.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 19.90% of the company’s stock.
Tesla Company Profile
Tesla, Inc is an American technology and automotive company that designs, develops, manufactures and sells electric vehicles and related energy products. Its vehicle lineup has included the Model S, Model 3, Model X, Model Y and Cybertruck, along with commercial and specialty products such as the Tesla Semi.
The company also develops energy-generation and storage products, including solar panels, solar roofing systems and battery storage solutions for residential, commercial and utility customers.
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