Renaissance Technologies LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 84.5% during the first quarter, Holdings Channel reports. The firm owned 211,290 shares of the electric vehicle producer’s stock after selling 1,150,832 shares during the quarter. Renaissance Technologies LLC’s holdings in Tesla were worth $78,547,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Tesla in the 4th quarter valued at $17,128,100,000. Corient Private Wealth LLC boosted its holdings in shares of Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares during the last quarter. Bank of America Corp DE grew its position in shares of Tesla by 56.0% during the fourth quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock valued at $9,334,211,000 after purchasing an additional 7,450,766 shares in the last quarter. Cardano Risk Management B.V. grew its position in shares of Tesla by 882.8% during the fourth quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock valued at $3,688,630,000 after purchasing an additional 7,367,507 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Tesla by 2.6% in the fourth 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 last quarter. 66.20% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on TSLA shares. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target (down from $510.00) on shares of Tesla in a report on Thursday. Erste Group Bank raised Tesla from a “sell” rating to a “hold” rating in a report on Friday, June 5th. BNP Paribas Exane downgraded Tesla from a “hold” rating to an “underperform” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. cut their target price on shares of Tesla from $475.00 to $445.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Tigress Financial began coverage on shares of Tesla in a report on Monday, April 27th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $404.95.
Insider Activity
In other Tesla 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 sale, the director owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 32,015 shares of company stock valued at $12,383,640. 19.90% of the stock is owned by insiders.
Tesla News Summary
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Record quarterly revenue and deliveries show Tesla is still growing its top line. Tesla Just Delivered Record Sales—So Why Did the Stock Sell Off?
- Positive Sentiment: Some investors remain bullish on the long term, with ARK/Cathie Wood buying the dip after the post-earnings slump. Cathie Wood’s Ark Bought the Dip in Tesla Stock
- Neutral Sentiment: Tesla continued to promote robotaxi and Optimus progress, but the market appears to want tangible revenue and execution milestones before rewarding those ambitions. Musk’s bad week: Tesla suffers worst slump since 2022, SpaceX drops ahead of Starship test flight
- Negative Sentiment: Q2 earnings missed expectations, and Tesla reported negative free cash flow as spending surged. Tesla’s once-bullish tone on robotaxis shifts
- Negative Sentiment: Management’s large 2026 capex plan and AI spending push are spooking investors over margins and cash burn. Tesla sees a $200 billion wipeout as investors pan Musk’s plan to spend ‘as fast as we can’
- Negative Sentiment: Analysts have been lowering price targets following the report, reflecting near-term profitability concerns. Tesla Stock Plunges as Analysts Slash Price Targets after Q2 Earnings Miss
Tesla Trading Down 2.1%
TSLA stock opened at $313.03 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.94 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a twelve month low of $297.82 and a twelve month high of $498.83. The stock has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 289.85, a price-to-earnings-growth ratio of 10.51 and a beta of 1.80. The firm’s fifty day simple moving average is $400.74 and its two-hundred day simple moving average is $402.53.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The firm had revenue of $28.24 billion during the quarter, compared to analysts’ expectations of $26.42 billion. During the same period in the prior year, the company posted $0.33 EPS. The company’s revenue was up 25.5% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.33 earnings per share for the current 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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