Zinnia Wealth Advisory LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA – Free Report) in the 4th quarter, HoldingsChannel reports. The fund bought 3,154 shares of the electric vehicle producer’s stock, valued at approximately $1,418,000. Tesla accounts for about 1.5% of Zinnia Wealth Advisory LLC’s holdings, making the stock its 18th largest holding.
Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in Tesla in the 4th quarter worth approximately $17,128,100,000. Cardano Risk Management B.V. raised its stake in Tesla by 882.8% during the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock valued at $3,688,630,000 after acquiring an additional 7,367,507 shares in the last quarter. 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 acquiring an additional 6,538,720 shares during the period. Holocene Advisors LP boosted its position in Tesla by 132.2% during the 3rd quarter. Holocene Advisors LP now owns 6,157,000 shares of the electric vehicle producer’s stock worth $2,738,141,000 after acquiring an additional 3,505,000 shares during the period. Finally, Capital World Investors grew its stake in shares of Tesla by 5.8% in the third 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 in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.
Tesla Price Performance
Shares of Tesla stock opened at $406.43 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $398.35 and its two-hundred day moving average price is $416.00. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The stock has a market cap of $1.53 trillion, a PE ratio of 372.87, a price-to-earnings-growth ratio of 16.25 and a beta of 1.80.
Insider Activity at Tesla
In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction on 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 owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, June 8th. The shares were 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. This trade represents a 10.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 57,824 shares of company stock valued at $21,657,588. Company insiders own 19.90% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on TSLA. Robert W. Baird cut their price objective on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Barclays reissued a “neutral” rating on shares of Tesla in a research note on Wednesday, May 13th. UBS Group boosted their price target on shares of Tesla from $352.00 to $364.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tesla in a research note on Monday, June 1st. Finally, TD Cowen reiterated a “buy” rating and issued a $490.00 price objective on shares of Tesla in a report on Thursday, June 4th. Twenty-two analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $404.37.
Get Our Latest Stock Analysis on Tesla
Key Tesla News
Here are the key news stories impacting Tesla this week:
- Negative Sentiment: Reuters reported that Tesla presented self-published FSD safety statistics to regulators in Sweden and the Netherlands that independent traffic-safety researchers say may be misleading marketing, which could complicate European approval efforts and raise regulatory/reputational risk. Exclusive: Tesla presented misleading ‘Full Self-Driving’ safety data to European regulators
- Positive Sentiment: Piper Sandler said Tesla has “cracked” the self-driving technology challenge, reinforcing the bullish case that autonomy could become a major future value driver for TSLA. Piper Sandler says Tesla has cracked self-driving technology challenge (TSLA)
- Positive Sentiment: Elon Musk pushed back on claims that Tesla’s growth depended on government incentives, saying sales actually rose after the $7,500 EV credit was removed; that supports the narrative that demand can remain resilient without subsidies. Elon Musk Says Tesla Sales ‘Actually Increased’ When Trump Removed $7,500 EV Credit, Calls Government Incentives Claim ‘Totally False’
- Neutral Sentiment: Ongoing speculation about a possible Tesla-SpaceX merger and the impact of SpaceX’s IPO is adding noise to Tesla’s valuation debate, but it remains highly uncertain and not directly tied to near-term fundamentals. Tesla Merger Talk With SpaceX Reshapes AI And Investor Outlook
- Neutral Sentiment: Coverage noting that Tesla appears in stock watchlists and broader EV roundups is not material by itself, but it reflects continued investor attention to the name. Electric Vehicle Stocks To Add to Your Watchlist – June 14th
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.
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