TritonPoint Partners LLC Makes New $873,000 Investment in Tesla, Inc. $TSLA

TritonPoint Partners LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,942 shares of the electric vehicle producer’s stock, valued at approximately $873,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Networth Advisors LLC bought a new stake in Tesla during the fourth quarter worth about $26,000. Chapman Financial Group LLC purchased a new position in shares of Tesla in the second quarter worth about $26,000. Davidson Capital Management Inc. increased its holdings 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 worth $27,000 after buying an additional 27 shares during the period. Prism Advisors Inc. purchased a new position in shares of Tesla in the fourth quarter worth about $30,000. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of Tesla in the third quarter worth about $30,000. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TSLA shares. Bank of America began coverage on Tesla in a report on Wednesday, March 4th. They issued a “buy” rating and a $460.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a report on Friday, April 24th. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Friday. JPMorgan Chase & Co. raised Tesla from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $145.00 to $475.00 in a research report on Friday, June 5th. Finally, Mizuho dropped their price target on Tesla from $540.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Twenty-one equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $404.37.

Key Stories Impacting Tesla

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

Tesla Price Performance

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 stock has a market capitalization of $1.54 trillion, a price-to-earnings 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 business’s fifty day moving average price is $399.36 and its 200-day moving average price is $415.94.

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

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on 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 sale, the chief financial officer owned 22,039 shares in the company, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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 completion of the sale, the director 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 57,824 shares of company stock valued at $21,657,588 over the last 90 days. 19.90% of the stock is currently owned by company insiders.

Tesla 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.