Alberta Investment Management Corp Buys 153,600 Shares of Tesla, Inc. $TSLA

Key Points

• Alberta Investment Management Corp dramatically increased its Tesla position, buying an additional 153,600 shares in the fourth quarter and lifting its stake by 449.1% to 187,800 shares valued at about $84.5 million.
• Several other hedge funds also increased their Tesla holdings, and institutional investors now own 66.20% of the company’s stock, underscoring continued professional interest in TSLA.
• Tesla’s recent operating and market backdrop remains mixed: it beat EPS estimates in its latest quarter, but insiders have sold shares recently and analysts currently rate the stock a Hold on average with a consensus price target of $404.37.

Alberta Investment Management Corp lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 449.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 187,800 shares of the electric vehicle producer's stock after acquiring an additional 153,600 shares during the period. Alberta Investment Management Corp's holdings in Tesla were worth $84,457,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Tesla by 9.1% during the second quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer's stock valued at $3,855,000 after acquiring an additional 1,011 shares during the last quarter. Finally, AGP Franklin LLC raised its stake in shares of Tesla by 21.2% during the second quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer's stock valued at $1,544,000 after acquiring an additional 851 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Trending Headlines about 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

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 57,824 shares of company stock valued at $21,657,588 in the last ninety days. Insiders own 19.90% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $411.15 on Tuesday. Tesla, Inc. has a 1 year low of $288.77 and a 1 year high of $498.83. 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 company's 50-day moving average is $399.36 and its 200 day moving average is $415.94. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 377.20, a P/E/G ratio of 16.25 and a beta of 1.80.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The business's revenue for the quarter was up 15.8% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 1.19 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a research note on Thursday. Roth Mkm reaffirmed a "buy" rating on shares of Tesla in a research note on Thursday, April 23rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tesla in a research note on Friday, April 24th. Mizuho lowered their price objective on shares of Tesla from $540.00 to $480.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Finally, UBS Group boosted their price target on shares of Tesla from $352.00 to $364.00 and gave the company a "neutral" rating in a research report on Wednesday, May 13th. Twenty-one equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $404.37.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.