Tesla, Inc. $TSLA Shares Bought by Platform Technology Partners

Platform Technology Partners grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,025 shares of the electric vehicle producer’s stock after acquiring an additional 3,140 shares during the quarter. Tesla comprises approximately 1.4% of Platform Technology Partners’ portfolio, making the stock its 17th biggest holding. Platform Technology Partners’ holdings in Tesla were worth $7,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Networth Advisors LLC purchased a new position in Tesla in the 4th quarter valued at about $26,000. Chapman Financial Group LLC purchased a new stake in shares of Tesla during the second quarter worth about $26,000. Davidson Capital Management Inc. raised its position in shares of Tesla by 79.4% in the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 27 shares during the last quarter. Friedenthal Financial raised its position in shares of Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 30 shares during the last quarter. Finally, Prism Advisors Inc. purchased a new position in shares of Tesla during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. BNP Paribas Exane cut shares of Tesla from a “hold” rating to an “underperform” rating in a research note on Friday, June 5th. Piper Sandler reissued an “overweight” rating on shares of Tesla in a research note on Wednesday, June 10th. Canaccord Genuity Group lifted their price objective on Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Zacks Research upgraded Tesla from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Tesla in a research report on Monday, April 27th. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $403.92.

Tesla Stock Down 7.5%

Shares of TSLA opened at $393.45 on Friday. Tesla, Inc. has a fifty-two week low of $288.77 and a fifty-two week high of $498.83. The company’s fifty day moving average is $407.27 and its two-hundred day moving average is $411.92. The firm has a market cap of $1.48 trillion, a PE ratio of 360.96, a price-to-earnings-growth ratio of 16.88 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 4.89% and a net margin of 3.95%.The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. Analysts forecast that Tesla, Inc. will post 1.2 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares of the company’s stock, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’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 sale, the chief financial officer owned 22,039 shares of the company’s stock, valued at $8,864,085.80. The trade was a 10.57% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 32,015 shares of company stock valued at $12,383,640. 19.90% of the stock is owned by company insiders.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Q2 deliveries beat expectations by a wide margin, reinforcing that the company’s automotive business is regaining momentum. Reuters: Tesla posts stronger-than-expected Q2 deliveries as Europe sales improve
• Positive Sentiment: U.S. regulators closed a probe into Tesla’s braking issue, removing one overhang tied to safety concerns. Reuters: U.S. closes 2022 probe into 695,000 Tesla vehicles over unexpected braking
• Positive Sentiment: Tesla launched a six-seater long-wheelbase Model Y in the U.S. to support sales after the loss of a key tax credit, which could help broaden demand. Reuters: Tesla launches six-seater Model Y L in US to boost sales
• Neutral Sentiment: Analysts remain split: some raised earnings estimates and price targets, but several maintained Hold/neutral views, citing valuation risk.
• Negative Sentiment: Multiple reports say the stock is selling off because investors are focused on margin and profitability concerns rather than the delivery beat, implying the market had already priced in strong numbers.
• Negative Sentiment: Safety headlines remain a drag, including a fatal Tesla Semi crash in Nevada and a Texas manslaughter charge tied to a Tesla using driver-assistance features, which could renew scrutiny of Tesla’s technology and brand.
• Negative Sentiment: Michael Burry disclosed a bearish bet against Tesla, adding another headline that may be pressuring sentiment.

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.