UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,532,936 shares of the electric vehicle producer’s stock after selling 216,832 shares during the period. Tesla makes up about 1.5% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s portfolio, making the stock its 11th largest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.49% of Tesla worth $8,215,553,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Tesla in the 4th quarter valued at about $17,128,100,000. Corient Private Wealth LLC increased its holdings in 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 worth $9,650,811,000 after purchasing an additional 20,810,386 shares in the last quarter. Legal & General Group Plc bought a new stake in Tesla during the 2nd quarter worth approximately $8,535,612,000. Bank of New York Mellon Corp purchased a new stake in shares of Tesla in the second quarter worth approximately $6,083,630,000. Finally, Deutsche Bank AG bought a new position in shares of Tesla in the second quarter valued at approximately $4,039,090,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Tesla News Summary
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.
Tesla Stock Down 0.1%
Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.17). The firm had revenue of $28.24 billion during the quarter, compared to analysts’ expectations of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. Tesla’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, equities analysts predict that Tesla, Inc. will post 0.88 EPS 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 shares were sold at an average price of $360.13, for a total value of $938,498.78. Following the sale, the chief financial officer owned 25,972 shares of the company’s stock, valued at $9,353,296.36. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is owned by insiders.
Analyst Ratings Changes
Several brokerages recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft set a $420.00 price target on Tesla in a report on Monday, July 27th. Stifel Nicolaus set a $491.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Monday, August 3rd. Citigroup reiterated a “market perform” rating on shares of Tesla in a research note on Monday, August 24th. Citizens Jmp initiated coverage on shares of Tesla in a research report on Thursday, July 9th. They set a “market perform” rating on the stock. Finally, Barclays upped their price objective on shares of Tesla from $360.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $401.74.
About Tesla
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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