TritonPoint Partners LLC Takes Position in Tesla, Inc. $TSLA

TritonPoint Partners LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,942 shares of the electric vehicle producer’s stock, valued at approximately $873,000.

A number of other institutional investors have also recently made changes to their positions in TSLA. Networth Advisors LLC bought a new position in shares of Tesla in the 4th quarter valued at about $26,000. Chapman Financial Group LLC bought a new position in shares of Tesla in the 2nd quarter valued at about $26,000. Davidson Capital Management Inc. lifted its holdings in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 27 shares during the last quarter. Prism Advisors Inc. bought a new position in shares of Tesla in the 4th quarter valued at about $30,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Tesla in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TSLA. Zacks Research raised shares of Tesla from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Truist Financial lowered their price target on shares of Tesla from $438.00 to $400.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. DZ Bank raised shares of Tesla from a “sell” rating to a “hold” rating and set a $385.00 price target for the company in a report on Friday, April 24th. Barclays reaffirmed a “neutral” rating on shares of Tesla in a report on Wednesday, May 13th. Finally, Canaccord Genuity Group increased their price target on shares of Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Twenty-one research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $404.37.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: SpaceX’s strong debut and rising attention on Musk’s empire have lifted sentiment around Tesla, with some investors viewing TSLA as a beneficiary of growing interest in a potential Tesla-SpaceX combination. Article Title
• Positive Sentiment: Wall Street discussion about Tesla’s AI-driven valuation, including robotaxi and Optimus upside, is keeping bullish expectations alive despite a high valuation. Article Title
• Neutral Sentiment: Rivian’s CEO said his company plans to release Tesla FSD-like self-driving tech later this year, underscoring continued competition in autonomous driving. Article Title
• Negative Sentiment: Reuters reported that Tesla gave European regulators safety data for Full Self-Driving that Swedish and Dutch authorities viewed as misleading, raising the risk of scrutiny or delays for FSD approval in Europe. Article Title
• Negative Sentiment: Additional reports about European regulators questioning Tesla’s FSD data could increase concerns about regulatory hurdles for one of Tesla’s key AI/autonomy growth drivers. Article Title

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s 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 transaction, the chief financial officer directly owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. This trade represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 57,824 shares of company stock valued at $21,657,588. 19.90% of the stock is owned by insiders.

Tesla Stock Up 1.2%

Shares of NASDAQ TSLA opened at $411.15 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. The company has a market cap of $1.54 trillion, a P/E ratio of 377.20, a PEG ratio of 16.25 and a beta of 1.80. Tesla, Inc. has a 1 year low of $288.77 and a 1 year high of $498.83. The firm has a 50-day simple moving average of $399.36 and a two-hundred day simple moving average of $415.94.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. Research analysts anticipate that Tesla, Inc. will post 1.19 earnings per share for the current year.

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.