BXM Wealth LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 79.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,466 shares of the electric vehicle producer’s stock after selling 5,821 shares during the quarter. BXM Wealth LLC’s holdings in Tesla were worth $545,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares in the last quarter. State Street Corp increased its holdings in shares of Tesla by 0.9% in the 4th quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock valued at $51,647,164,000 after acquiring an additional 1,080,085 shares during the period. Geode Capital Management LLC raised its position in shares of 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 worth $29,426,070,000 after acquiring an additional 375,946 shares in the last quarter. Capital World Investors lifted its stake in shares of 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 last quarter. Finally, Norges Bank purchased a new position in Tesla in the fourth quarter valued at about $17,128,100,000. 66.20% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of Tesla from $438.00 to $400.00 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Tesla in a research note on Tuesday, April 21st. Sanford C. Bernstein upgraded Tesla from an “underperform” rating to an “outperform” rating in a research note on Friday, June 5th. Roth Mkm restated a “buy” rating on shares of Tesla in a report on Thursday, April 23rd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Thursday, June 11th. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $403.07.
Key Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla’s FSD V14 Lite rollout and software boost for older cars renewed enthusiasm around its self-driving and robotaxi prospects. Tesla’s stock rips higher after a long-awaited update to self-driving technology
- Positive Sentiment: Strong pre-delivery optimism continues, with Morgan Stanley raising its Q2 delivery estimate on better Europe and China trends. Morgan Stanley Lifts Tesla Delivery Forecast on Stronger Europe and China Demand (TSLA)
- Positive Sentiment: Bullish sector sentiment and a tech rebound lifted EV stocks broadly, adding momentum to TSLA. TSLA, LCID, RIVN: Here’s Why EV Stocks Are Surging Today
- Neutral Sentiment: Investors are awaiting Tesla’s Q2 delivery report, which remains a key near-term catalyst. Tesla Reports Q2 Deliveries in a Matter of Days. Here’s the Number That Matters.
- Negative Sentiment: Some analysts still say Tesla’s valuation depends on much higher FSD performance, showing continued skepticism around autonomy timelines. Tesla Stock (TSLA) Won’t Beat the Nasdaq Until FSD Hits 99.99%, Analyst Warns
Insider Transactions at Tesla
In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the transaction, the chief financial officer owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,015 shares of company stock worth $12,383,640 over the last 90 days. Insiders own 19.90% of the company’s stock.
Tesla Stock Up 8.5%
Shares of TSLA stock opened at $411.84 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a twelve month low of $288.77 and a twelve month high of $498.83. The stock has a 50 day moving average of $406.07 and a 200 day moving average of $412.75. The stock has a market cap of $1.55 trillion, a P/E ratio of 377.83, a P/E/G ratio of 15.18 and a beta of 1.80.
Tesla (NASDAQ:TSLA – Get Free Report) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period in the previous year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, sell-side analysts expect that Tesla, Inc. will post 1.19 EPS for the current year.
About Tesla
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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