Primecap Management Co. CA purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,103,030 shares of the electric vehicle producer’s stock, valued at approximately $2,566,934,000. Tesla accounts for approximately 1.5% of Primecap Management Co. CA’s portfolio, making the stock its 12th biggest holding.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Tesla by 0.9% in 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 purchasing an additional 1,080,085 shares during the period. Geode Capital Management LLC grew its stake in Tesla by 0.6% in the 4th 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 in the last quarter. Norges Bank purchased a new position in Tesla in the 4th quarter valued at approximately $17,128,100,000. Amundi raised its holdings in Tesla by 14.0% during the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock valued at $8,243,513,000 after acquiring an additional 2,727,141 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of Tesla by 3,205.5% during the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock worth $9,650,811,000 after acquiring an additional 20,810,386 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.
Tesla Stock Performance
Tesla stock opened at $354.08 on Monday. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94. The stock has a market cap of $1.40 trillion, a P/E ratio of 327.85, a price-to-earnings-growth ratio of 17.88 and a beta of 1.84. The firm’s fifty day moving average price is $358.22 and its 200-day moving average price is $382.85.
Key Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla began offering limited Cybercab rides in Austin, marking tangible progress toward its long-promised autonomous-vehicle strategy. The company is also soliciting interest from businesses that may purchase Cybercab fleets or provide supporting infrastructure, potentially expanding the model beyond Tesla-operated vehicles. Tesla Cybercab Hits Austin Streets
- Positive Sentiment: Tesla said the Cybercab motor uses no rare-earth metals, which could reduce supply-chain exposure. Separately, French authorities began testing Tesla’s Full Self-Driving technology, a possible step toward European regulatory progress. Cybercab Rare-Earth-Free Motor
- Neutral Sentiment: Technical analysts identified potential support around $330–$331 after the stock failed to hold resistance near $380. A successful rebound could restore momentum, but a break below roughly $347 could increase downside pressure. Tesla Forecast and Technical Levels
- Negative Sentiment: The National Highway Traffic Safety Administration opened an audit involving approximately 1,000 Cybercabs. Regulators are reviewing Tesla’s self-certification and whether a vehicle without a steering wheel, pedals or conventional mirrors complies with federal safety standards, creating potential approval and rollout delays. NHTSA Cybercab Probe
- Negative Sentiment: Analysts and financial media characterized the event as underwhelming, citing limited updates and unanswered questions about manufacturing scale, commercialization and economics. Bearish commentary—including a reiterated sell rating and an extreme downside forecast—added to the pressure, especially given Tesla’s very high earnings multiple and recent EPS miss. Tesla Stock Drops After Cybercab Update
Analyst Ratings Changes
Several brokerages have recently weighed in on TSLA. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Thursday, July 2nd. JPMorgan Chase & Co. cut their target price on Tesla from $475.00 to $445.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Guggenheim started coverage on Tesla in a report on Monday, June 29th. They set a “neutral” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target (down from $510.00) on shares of Tesla in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $401.74.
Read Our Latest Report on TSLA
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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