Alta Advisers Ltd purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,912 shares of the electric vehicle producer's stock, valued at approximately $4,590,000. Tesla makes up 1.0% of Alta Advisers Ltd's holdings, making the stock its 15th biggest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Chapman Financial Group LLC bought a new stake in shares of Tesla during the 2nd quarter worth about $26,000. Friedenthal Financial lifted its stake in shares of Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 30 shares during the last quarter. Turning Point Benefit Group Inc. bought a new stake in shares of Tesla during the 3rd quarter worth $30,000. Texas Capital Bancshares Inc TX bought a new stake in shares of Tesla during the 3rd quarter worth $31,000. Finally, Harborfront Financial Group LLC acquired a new position in Tesla in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 66.20% of the company's stock.
Tesla News Roundup
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla began offering limited Cybercab rides in Austin, marking tangible progress toward its long-promised autonomous-vehicle strategy. The company is also soliciting interest from businesses that may purchase Cybercab fleets or provide supporting infrastructure, potentially expanding the model beyond Tesla-operated vehicles. Tesla Cybercab Hits Austin Streets
- Positive Sentiment: Tesla said the Cybercab motor uses no rare-earth metals, which could reduce supply-chain exposure. Separately, French authorities began testing Tesla’s Full Self-Driving technology, a possible step toward European regulatory progress. Cybercab Rare-Earth-Free Motor
- Neutral Sentiment: Technical analysts identified potential support around $330–$331 after the stock failed to hold resistance near $380. A successful rebound could restore momentum, but a break below roughly $347 could increase downside pressure. Tesla Forecast and Technical Levels
- Negative Sentiment: The National Highway Traffic Safety Administration opened an audit involving approximately 1,000 Cybercabs. Regulators are reviewing Tesla’s self-certification and whether a vehicle without a steering wheel, pedals or conventional mirrors complies with federal safety standards, creating potential approval and rollout delays. NHTSA Cybercab Probe
- Negative Sentiment: Analysts and financial media characterized the event as underwhelming, citing limited updates and unanswered questions about manufacturing scale, commercialization and economics. Bearish commentary—including a reiterated sell rating and an extreme downside forecast—added to the pressure, especially given Tesla’s very high earnings multiple and recent EPS miss. Tesla Stock Drops After Cybercab Update
Tesla Trading Down 5.9%
Shares of NASDAQ TSLA opened at $354.08 on Friday. Tesla, Inc. has a 1-year low of $297.38 and a 1-year high of $498.83. The company has a market cap of $1.40 trillion, a PE ratio of 327.85, a P/E/G ratio of 19.00 and a beta of 1.84. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $358.22 and a two-hundred day moving average of $383.10.
Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). The company had revenue of $28.24 billion during 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 business's revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. As a group, equities analysts expect that Tesla, Inc. will post 0.88 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have weighed in on TSLA. Deutsche Bank Aktiengesellschaft set a $420.00 target price on shares of Tesla in a research report on Monday, July 27th. Citizens Jmp began coverage on Tesla in a research report on Thursday, July 9th. They issued a "market perform" rating on the stock. Phillip Securities dropped their price objective on Tesla from $220.00 to $215.00 and set a "sell" rating on the stock in a research note on Wednesday, May 13th. BMO Capital Markets initiated coverage on Tesla in a research note on Monday, August 17th. They set an "outperform" rating for the company. Finally, Truist Financial set a $370.00 target price on Tesla and gave the company a "hold" rating in a report on Thursday, July 23rd. One investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $401.74.
Check Out Our Latest Stock Report on TSLA
Insider Transactions at Tesla
In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, June 8th. The shares were 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 of the company's stock, 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 the SEC website. 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.
About Tesla
(
Free Report)
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.
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