CrossGen Wealth LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 272.3% in the first quarter, HoldingsChannel reports. The firm owned 1,858 shares of the electric vehicle producer’s stock after purchasing an additional 1,359 shares during the quarter. CrossGen Wealth LLC’s holdings in Tesla were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in the stock. Networth Advisors LLC acquired a new position in shares of Tesla during the fourth quarter valued at $26,000. Davidson Capital Management Inc. increased its holdings in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 27 shares during the period. Turning Point Benefit Group Inc. acquired a new stake in shares of Tesla in the 3rd quarter worth about $30,000. Prism Advisors Inc. bought a new stake in Tesla in the 4th quarter valued at about $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new position in Tesla during the 3rd quarter valued at about $31,000. 66.20% of the stock is owned by institutional investors and hedge funds.
Tesla News Roundup
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla’s FSD V14 Lite rollout and software boost for older cars renewed enthusiasm around its self-driving and robotaxi prospects. Tesla’s stock rips higher after a long-awaited update to self-driving technology
- Positive Sentiment: Strong pre-delivery optimism continues, with Morgan Stanley raising its Q2 delivery estimate on better Europe and China trends. Morgan Stanley Lifts Tesla Delivery Forecast on Stronger Europe and China Demand (TSLA)
- Positive Sentiment: Bullish sector sentiment and a tech rebound lifted EV stocks broadly, adding momentum to TSLA. TSLA, LCID, RIVN: Here’s Why EV Stocks Are Surging Today
- Neutral Sentiment: Investors are awaiting Tesla’s Q2 delivery report, which remains a key near-term catalyst. Tesla Reports Q2 Deliveries in a Matter of Days. Here’s the Number That Matters.
- Negative Sentiment: Some analysts still say Tesla’s valuation depends on much higher FSD performance, showing continued skepticism around autonomy timelines. Tesla Stock (TSLA) Won’t Beat the Nasdaq Until FSD Hits 99.99%, Analyst Warns
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on Tesla
Insider Activity at Tesla
In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the sale, the chief financial officer owned 22,039 shares of the company’s stock, valued at $8,864,085.80. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 48,399 shares of the company’s stock, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 32,015 shares of company stock worth $12,383,640. 19.90% of the stock is owned by corporate insiders.
Tesla Stock Up 8.5%
Tesla stock opened at $411.84 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 cap of $1.55 trillion, a price-to-earnings ratio of 377.83, a PEG ratio of 15.18 and a beta of 1.80. The company’s 50-day moving average price is $406.07 and its two-hundred day moving average price is $412.75. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS. On average, analysts expect that Tesla, Inc. will post 1.19 EPS 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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