Assetmark Inc. Purchases 11,084 Shares of Tesla, Inc. $TSLA

Key Points

• Assetmark Inc. increased its Tesla stake by 3.1% in the first quarter, buying 11,084 additional shares and bringing its total holding to 366,757 shares worth about $136.3 million.
• Tesla has seen continued interest from other institutional investors, and 66.20% of the stock is owned by institutions and hedge funds, indicating broad professional ownership.
• Analysts remain mixed on Tesla, with an average Hold rating and a consensus price target of $408.07, while the stock recently traded at $391.06 after Tesla reported quarterly EPS above estimates but revenue below expectations.

Assetmark Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 366,757 shares of the electric vehicle producer's stock after purchasing an additional 11,084 shares during the quarter. Assetmark Inc.'s holdings in Tesla were worth $136,342,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. PFS Partners LLC boosted its stake in Tesla by 4.2% during the fourth quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer's stock worth $265,000 after buying an additional 24 shares in the last quarter. Boltwood Capital Management lifted its holdings in shares of Tesla by 1.2% during the 4th quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer's stock worth $953,000 after acquiring an additional 25 shares during the period. Woodmont Investment Counsel LLC boosted its position in shares of Tesla by 1.2% during the 4th quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer's stock valued at $955,000 after acquiring an additional 25 shares in the last quarter. Aspect Partners LLC boosted its position in shares of Tesla by 12.5% during the 4th quarter. Aspect Partners LLC now owns 225 shares of the electric vehicle producer's stock valued at $101,000 after acquiring an additional 25 shares in the last quarter. Finally, Human Investing LLC increased its stake in Tesla by 4.5% in the fourth quarter. Human Investing LLC now owns 578 shares of the electric vehicle producer's stock valued at $260,000 after acquiring an additional 25 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s stronger-than-expected vehicle deliveries last quarter support the case that demand remains resilient, and the company may also benefit from tighter global emissions rules that could accelerate EV adoption. Tesla’s Delivery Surprise Was Big—Earnings Need to Be Bigger
• Positive Sentiment: Investor interest is high ahead of the July 22 earnings call, with questions focused on robotaxi progress, Optimus, Cybercab, and Elon Musk’s comments, which could provide a catalyst if Tesla offers credible updates. Tesla Q2 Earnings: Elon Musk's Pay Package, Cybercab and Optimus Lead Top Investor Questions
• Positive Sentiment: Some analysts remain constructive, noting Tesla is positioned to benefit from EV adoption trends and long-term software/autonomy opportunities. Tesla Rides Tightening Global Emission Standards for EV Thrust

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the sale, the chief financial officer directly owned 22,039 shares of the company's stock, valued at $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 32,015 shares of company stock valued at $12,383,640. Corporate insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Tesla from $415.00 to $417.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Zacks Research upgraded Tesla from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Tigress Financial assumed coverage on Tesla in a report on Monday, April 27th. They issued a "buy" rating for the company. William Blair restated a "market perform" rating on shares of Tesla in a research report on Thursday, July 2nd. Finally, UBS Group boosted their price target on Tesla from $364.00 to $442.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Twenty-one investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $408.07.

Tesla Stock Down 0.9%

Shares of TSLA opened at $391.06 on Friday. The business's fifty day moving average price is $410.37 and its two-hundred day moving average price is $406.18. The firm has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 358.77, a PEG ratio of 14.39 and a beta of 1.80. Tesla, Inc. has a 52 week low of $297.82 and a 52 week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The firm's quarterly revenue was up 15.8% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 1.3 earnings per share for the current year.

About Tesla

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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