Rakuten Investment Management Inc. Acquires 75,495 Shares of Tesla, Inc. $TSLA

Rakuten Investment Management Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 14.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 600,424 shares of the electric vehicle producer’s stock after purchasing an additional 75,495 shares during the quarter. Tesla accounts for 0.7% of Rakuten Investment Management Inc.’s holdings, making the stock its 12th largest position. Rakuten Investment Management Inc.’s holdings in Tesla were worth $247,279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TSLA. Brighton Jones LLC boosted its stake in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC raised its position in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the period. Sivia Capital Partners LLC lifted its position in Tesla by 9.1% in the second quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer’s stock worth $3,855,000 after buying an additional 1,011 shares during the last quarter. Finally, AGP Franklin LLC raised its stake in shares of Tesla by 21.2% in the second quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer’s stock valued at $1,544,000 after acquiring an additional 851 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Get Tesla alerts:

Tesla Price Performance

NASDAQ:TSLA opened at $368.16 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83. The stock’s 50-day moving average price is $356.02 and its 200-day moving average price is $382.15. The stock has a market capitalization of $1.45 trillion, a PE ratio of 340.89, a price-to-earnings-growth ratio of 17.88 and a beta of 1.84.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results 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 business had revenue of $28.24 billion for the quarter, compared to analysts’ expectations of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%.The business’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 company posted $0.33 EPS. As a group, equities analysts expect that Tesla, Inc. will post 0.88 EPS for the current fiscal year.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Slovenia approved Tesla’s supervised Full Self-Driving system, becoming the sixth European country to authorize the technology. The decision could support wider European adoption and future high-margin software revenue. Slovenia clears Tesla FSD driver assistance
• Positive Sentiment: Goldman Sachs estimates Tesla’s Cybercab could operate for as much as $0.30 less per mile than competing autonomous vehicles if Tesla achieves its targeted $20,000–$30,000 production cost, strengthening the long-term robotaxi business case. Tesla Cybercab cost advantage
• Neutral Sentiment: Tesla has begun limited paid Cybercab rides in Austin, moving its steering-wheel-free robotaxi from concept toward commercial service. However, the small rollout provides little evidence yet regarding pricing, utilization, fleet growth or profitability. Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
• Negative Sentiment: The National Highway Traffic Safety Administration opened a probe into the certification and safety of nearly 1,000 Cybercabs, focusing on the vehicles’ lack of steering wheels and pedals. The investigation could delay expansion and increase regulatory costs. Cybercab certification regulatory probe
• Negative Sentiment: The Cybercab launch was viewed as muted because Tesla did not provide clear economics, production targets or a nationwide rollout schedule. Investors are also comparing Tesla’s limited Austin operation with Waymo’s much larger autonomous ride network. Tesla stock falls after Cybercab launch and NHTSA probe
• Negative Sentiment: Weak demand remains a concern: Tesla’s Chinese retail sales fell 12.4% in August, while European registrations were mixed. A viral video showing a person repeatedly triggering a Cybercab’s emergency braking also raised additional safety questions. Tesla sales in China

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. UBS Group set a $460.00 price target on Tesla in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research note on Tuesday, July 21st. Citizens Jmp started coverage on Tesla in a report on Thursday, July 9th. They issued a “market perform” rating on the stock. Evercore raised shares of Tesla from a “hold” rating to an “outperform” rating in a research report on Friday, June 5th. Finally, BNP Paribas Exane downgraded Tesla from a “hold” rating to an “underperform” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eighteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $401.74.

View Our Latest Stock Report on TSLA

Tesla Company Profile

(Free Report)

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.

Featured Stories

• Five stocks we like better than Tesla
• Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
• Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
• Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
• Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA – Free Report).

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.