49 Wealth Management LLC Makes New $847,000 Investment in Tesla, Inc. $TSLA

49 Wealth Management LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,014 shares of the electric vehicle producer's stock, valued at approximately $847,000.

A number of other large investors also recently made changes to their positions in the company. Capasso Planning Partners LLC bought a new position in shares of Tesla during the second quarter valued at about $432,000. Strait & Sound Wealth Management LLC grew its position in Tesla by 4.5% in the 2nd quarter. Strait & Sound Wealth Management LLC now owns 6,489 shares of the electric vehicle producer's stock worth $2,729,000 after purchasing an additional 282 shares in the last quarter. Rakuten Investment Management Inc. increased its stake in Tesla by 14.4% in the 2nd quarter. Rakuten Investment Management Inc. now owns 600,424 shares of the electric vehicle producer's stock valued at $247,279,000 after buying an additional 75,495 shares during the last quarter. Fulcrum Asset Management LLP purchased a new stake in Tesla in the 2nd quarter valued at about $9,808,000. Finally, Glenview Trust Co bought a new position in shares of Tesla during the 2nd quarter worth approximately $1,217,000. 66.20% of the stock is owned by institutional investors.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Slovenia approved Tesla’s supervised Full Self-Driving system, becoming the sixth European country to authorize the technology. The decision could support wider European adoption and future high-margin software revenue. Slovenia clears Tesla FSD driver assistance
• Positive Sentiment: Goldman Sachs estimates Tesla’s Cybercab could operate for as much as $0.30 less per mile than competing autonomous vehicles if Tesla achieves its targeted $20,000–$30,000 production cost, strengthening the long-term robotaxi business case. Tesla Cybercab cost advantage
• Neutral Sentiment: Tesla has begun limited paid Cybercab rides in Austin, moving its steering-wheel-free robotaxi from concept toward commercial service. However, the small rollout provides little evidence yet regarding pricing, utilization, fleet growth or profitability. Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
• Negative Sentiment: The National Highway Traffic Safety Administration opened a probe into the certification and safety of nearly 1,000 Cybercabs, focusing on the vehicles’ lack of steering wheels and pedals. The investigation could delay expansion and increase regulatory costs. Cybercab certification regulatory probe
• Negative Sentiment: The Cybercab launch was viewed as muted because Tesla did not provide clear economics, production targets or a nationwide rollout schedule. Investors are also comparing Tesla’s limited Austin operation with Waymo’s much larger autonomous ride network. Tesla stock falls after Cybercab launch and NHTSA probe
• Negative Sentiment: Weak demand remains a concern: Tesla’s Chinese retail sales fell 12.4% in August, while European registrations were mixed. A viral video showing a person repeatedly triggering a Cybercab’s emergency braking also raised additional safety questions. Tesla sales in China

Tesla Trading Up 4.0%

Shares of Tesla stock opened at $368.16 on Wednesday. The company's 50-day moving average price is $356.02 and its 200-day moving average price is $382.15. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12-month low of $297.38 and a 12-month high of $498.83. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 340.89, a PEG ratio of 17.88 and a beta of 1.84.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.17). The firm had revenue of $28.24 billion for the quarter, compared to analysts' expectations of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. Tesla's revenue was up 25.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. On average, equities analysts expect that Tesla, Inc. will post 0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. TD Cowen reaffirmed a "buy" rating on shares of Tesla in a report on Friday, August 14th. Wells Fargo & Company reissued an "underweight" rating and issued a $130.00 price objective (up from $125.00) on shares of Tesla in a research report on Tuesday, July 14th. JPMorgan Chase & Co. reduced their price objective on Tesla from $475.00 to $445.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. HSBC reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 15th. Finally, Sanford C. Bernstein raised shares of Tesla from an "underperform" rating to an "outperform" rating in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $401.74.

Tesla Company Profile

Tesla, Inc is an American technology and automotive company that designs, develops, manufactures and sells electric vehicles and related energy products. Its vehicle lineup has included the Model S, Model 3, Model X, Model Y and Cybertruck, along with commercial and specialty products such as the Tesla Semi.

The company also develops energy-generation and storage products, including solar panels, solar roofing systems and battery storage solutions for residential, commercial and utility customers.

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