Apollon Wealth Management LLC Acquires 19,905 Shares of Tesla, Inc. $TSLA

Key Points

• Apollon Wealth Management increased its Tesla stake by 21.5% in the second quarter, buying 19,905 additional shares for a total holding of 112,627 shares valued at approximately $47.4 million.
• Tesla CFO Vaibhav Taneja sold 2,606 shares worth about $1.05 million to cover tax obligations tied to vested equity awards; insiders own 19.9% of the company, while institutions hold 66.2%.
• Tesla’s latest quarterly earnings missed estimates at $0.33 per share versus $0.50 expected, despite revenue of $28.24 billion exceeding forecasts. The stock opened at $348.95, and analysts’ consensus rating remains “Hold” with an average price target of $401.74.

Apollon Wealth Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,627 shares of the electric vehicle producer's stock after buying an additional 19,905 shares during the quarter. Apollon Wealth Management LLC's holdings in Tesla were worth $47,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Marks Group Wealth Management Inc lifted its position in shares of Tesla by 1.7% during the 4th quarter. Marks Group Wealth Management Inc now owns 1,512 shares of the electric vehicle producer's stock valued at $680,000 after acquiring an additional 25 shares during the period. Clear Trail Advisors LLC boosted its stake in Tesla by 1.6% during the first quarter. Clear Trail Advisors LLC now owns 1,628 shares of the electric vehicle producer's stock worth $605,000 after acquiring an additional 25 shares in the last quarter. Peirce Capital Management LLC grew its holdings in Tesla by 1.5% in the second quarter. Peirce Capital Management LLC now owns 1,657 shares of the electric vehicle producer's stock worth $697,000 after purchasing an additional 25 shares during the period. Brio Consultants LLC increased its stake in Tesla by 4.7% in the fourth quarter. Brio Consultants LLC now owns 575 shares of the electric vehicle producer's stock valued at $259,000 after purchasing an additional 26 shares in the last quarter. Finally, Community Bank & Trust Waco Texas raised its holdings in shares of Tesla by 1.7% during the fourth quarter. Community Bank & Trust Waco Texas now owns 1,581 shares of the electric vehicle producer's stock valued at $711,000 after purchasing an additional 26 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction 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 in the company, valued at $8,864,085.80. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 insiders.

Tesla Stock Down 3.8%

TSLA stock opened at $348.95 on Tuesday. The firm has a market capitalization of $1.38 trillion, a PE ratio of 323.10, a P/E/G ratio of 18.32 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 twelve month low of $297.38 and a twelve month high of $498.83. The stock's 50 day moving average is $364.38 and its 200-day moving average is $386.56.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.17). The company 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. Sell-side analysts expect that Tesla, Inc. will post 0.88 EPS for the current fiscal year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada approved Tesla to deploy up to 5,000 robo-taxis, expanding the company’s permitted autonomous-vehicle fleet and supporting its strategy to build a transportation business beyond vehicle sales. Tesla's Robo-Taxi Expansion Takes a Leap Forward
• Positive Sentiment: Tesla plans to launch its wheelless, pedal-less Cybercab in Austin on September 3 and expects to roll out 2,500 robotaxis during 2026. The event could provide investors with evidence of progress toward scaling autonomous ride-hailing. Tesla to launch Cybercabs in Austin starting Sept. 3
• Positive Sentiment: Tesla retained a majority of the U.S. electric-vehicle market in the second quarter, although the overall U.S. EV market is shrinking and Tesla’s international performance remains a concern. Tesla Maintained Its Majority of the U.S. EV Market in Q2

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TSLA. Citigroup reissued a "market perform" rating on shares of Tesla in a research report on Monday. Stifel Nicolaus set a $491.00 price target on Tesla and gave the stock a "buy" rating in a research note on Monday, August 3rd. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Tuesday, August 18th. Zacks Research raised Tesla from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Finally, William Blair restated a "market perform" rating on shares of Tesla in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $401.74.

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.

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