Tesla, Inc. $TSLA Stake Decreased by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 51.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 15,172 shares of the electric vehicle producer’s stock after selling 16,216 shares during the period. Edgestream Partners L.P.’s holdings in Tesla were worth $5,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in Tesla during the 4th quarter worth $17,128,100,000. Corient Private Wealth LLC increased its holdings in shares of Tesla by 3,205.5% during the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares during the period. Bank of America Corp DE raised its stake in shares of Tesla by 56.0% during the fourth quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock valued at $9,334,211,000 after purchasing an additional 7,450,766 shares in the last quarter. Cardano Risk Management B.V. raised its stake in shares of Tesla by 882.8% during the fourth 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 purchasing an additional 7,367,507 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after buying an additional 6,538,720 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 3.5%

NASDAQ TSLA opened at $308.85 on Friday. Tesla, Inc. has a 12 month low of $297.38 and a 12 month high of $498.83. The company has a market capitalization of $1.22 trillion, a P/E ratio of 285.97, a PEG ratio of 14.80 and a beta of 1.80. The company’s 50 day simple moving average is $392.23 and its 200 day simple moving average is $398.52. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.94 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). The business had revenue of $28.24 billion for the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%.The company’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 earnings per share. Equities research analysts expect that Tesla, Inc. will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Tesla from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research note on Tuesday, April 21st. Jefferies Financial Group set a $400.00 target price on Tesla and gave the stock a “hold” rating in a research report on Monday, July 13th. Erste Group Bank upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. dropped their price objective on Tesla from $475.00 to $445.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nineteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $402.24.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla produced its 10 millionth electric vehicle, a milestone that reinforces the company’s manufacturing scale and long-term position in the EV market. Tesla made its 10 millionth EV
• Positive Sentiment: Global EV sales accelerated in the second quarter, particularly in countries affected by higher gasoline prices. Tesla could benefit from stronger international demand alongside BYD. Tesla and BYD Ride Global EV Boom
• Positive Sentiment: Reports highlighting the safety performance of Tesla’s supervised Full Self-Driving system in Europe support the company’s autonomy strategy, although regulatory and commercial hurdles remain. Tesla’s European Full Self-Driving Supervised
• Positive Sentiment: ARK Invest’s Cathie Wood reportedly bought approximately $53.5 million of Tesla shares after the selloff, signaling continued confidence in robotaxis, Optimus and AI-related growth. Cathie Wood Bought Tesla Stock

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.