Tesla, Inc. $TSLA Shares Bought by Oak Ridge Investments LLC

Oak Ridge Investments LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 30.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,438 shares of the electric vehicle producer’s stock after buying an additional 28,435 shares during the quarter. Tesla accounts for about 2.9% of Oak Ridge Investments LLC’s holdings, making the stock its 10th biggest holding. Oak Ridge Investments LLC’s holdings in Tesla were worth $51,077,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its position in Tesla by 0.9% during the 4th quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock worth $51,647,164,000 after purchasing an additional 1,080,085 shares during the last quarter. Geode Capital Management LLC grew 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 valued at $29,426,070,000 after buying an additional 375,946 shares during the last quarter. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter valued at about $17,128,100,000. Amundi increased its stake in shares of Tesla by 14.0% in the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock valued at $8,243,513,000 after buying an additional 2,727,141 shares during the period. Finally, Corient Private Wealth LLC raised its position 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 worth $9,650,811,000 after acquiring an additional 20,810,386 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada increased Tesla’s permitted Las Vegas robotaxi fleet from 10 vehicles to 5,000, providing regulatory support for the company’s autonomous-driving strategy. However, Tesla still must deploy and operate the expanded fleet successfully. Nevada robotaxi approval
• Positive Sentiment: Elon Musk teased a larger Tesla vehicle, potentially an SUV or Robovan, addressing a product gap in family-oriented vehicles and potentially expanding the company’s addressable market. Tesla Robovan teaser

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $345.82 on Thursday. The firm has a 50 day moving average of $362.28 and a 200-day moving average of $385.80. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 320.21, a price-to-earnings-growth ratio of 17.68 and a beta of 1.83. The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). The company had revenue of $28.24 billion for the quarter, compared to analyst estimates of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. The firm’s revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, equities analysts forecast that Tesla, Inc. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TSLA shares. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Tuesday, August 18th. Robert W. Baird set a $475.00 price target on shares of Tesla in a research report on Monday, July 27th. Piper Sandler reduced their price objective on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. TD Cowen reiterated a “buy” rating on shares of Tesla in a research report on Friday, August 14th. Finally, Phillip Securities lowered their target price on shares of Tesla from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nineteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $401.74.

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.