Waystone Advisors LLC Takes Position in Tesla, Inc. $TSLA

Waystone Advisors LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,867 shares of the electric vehicle producer’s stock, valued at approximately $840,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Tesla by 2.6% during the 4th 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 period. State Street Corp boosted its position in Tesla by 0.3% during the 3rd quarter. State Street Corp now owns 113,762,849 shares of the electric vehicle producer’s stock worth $50,592,614,000 after purchasing an additional 344,162 shares during the period. Geode Capital Management LLC boosted its position in Tesla by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock worth $29,426,070,000 after purchasing an additional 375,946 shares during the period. Capital World Investors boosted its position in Tesla by 5.8% during the 3rd quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock worth $19,583,547,000 after purchasing an additional 2,403,019 shares during the period. Finally, Legal & General Group Plc boosted its position in Tesla by 5.5% during the 4th quarter. Legal & General Group Plc now owns 20,181,227 shares of the electric vehicle producer’s stock worth $9,075,901,000 after purchasing an additional 1,043,213 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European sales momentum appears to be improving, with multiple reports citing April registrations up sharply year over year and suggesting the EV business is regaining traction after a long slump. Tesla Logs Strong Growth in European Monthly Sales
• Positive Sentiment: Wall Street is also focusing on Tesla’s robotaxi and Optimus opportunities, with coverage saying a new patent could protect future revenue drivers and that the stock is approaching a technical breakout setup. Tesla Patent Could Protect Two Biggest Future Revenue Drivers: Here’s Why ‘Lens Cleaning System’ May Matter
• Positive Sentiment: Renewed speculation around a possible SpaceX-Tesla tie-up is adding excitement, with reports and commentary suggesting the rumored SpaceX IPO could become a major long-term catalyst for Tesla shareholders. SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq

Tesla Stock Performance

Shares of Tesla stock opened at $440.36 on Thursday. The firm has a market cap of $1.65 trillion, a PE ratio of 404.00, a price-to-earnings-growth ratio of 17.12 and a beta of 1.79. The firm’s 50-day simple moving average is $390.12 and its 200-day simple moving average is $416.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. Tesla, Inc. has a 1 year low of $273.21 and a 1 year high of $498.83.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion for 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 company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 EPS. Equities analysts forecast that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on TSLA shares. HSBC started coverage on shares of Tesla in a research report on Monday, April 27th. They set a “buy” rating for the company. Truist Financial decreased their price target on shares of Tesla from $438.00 to $400.00 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Benchmark reissued a “buy” rating on shares of Tesla in a research report on Wednesday, February 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research report on Friday, April 24th. Finally, BNP Paribas Exane raised shares of Tesla from an “underperform” rating to a “neutral” rating in a research report on Monday, April 27th. Nineteen analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $395.20.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director owned 48,399 shares in the company, valued at $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. This trade represents a 14.21% 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 quarter, insiders have sold 57,482 shares of company stock worth $21,508,331. 19.90% of the stock is owned by company insiders.

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.