Avidian Wealth Enterprises LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 20,038 shares of the electric vehicle producer's stock after acquiring an additional 2,067 shares during the period. Avidian Wealth Enterprises LLC's holdings in Tesla were worth $8,428,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp boosted its position in shares of Tesla by 0.9% during the fourth quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer's stock worth $51,647,164,000 after purchasing an additional 1,080,085 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tesla by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer's stock valued at $29,426,070,000 after buying an additional 375,946 shares in the last quarter. Norges Bank bought a new stake in shares of Tesla in the 4th quarter valued at $17,128,100,000. Amundi raised its stake in Tesla by 14.0% during the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer's stock worth $8,243,513,000 after buying an additional 2,727,141 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Tesla by 3,205.5% during the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer's stock worth $9,650,811,000 after acquiring an additional 20,810,386 shares in the last quarter. Institutional investors own 66.20% of the company's stock.
Tesla Stock Down 1.3%
Shares of Tesla stock opened at $345.82 on Thursday. The business's 50 day simple moving average is $362.28 and its 200 day simple moving average is $385.80. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83. The firm has a market cap of $1.37 trillion, a PE ratio of 320.21, a P/E/G ratio of 17.68 and a beta of 1.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94.
Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The firm had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The company's revenue was up 25.5% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 0.88 earnings per share for the current fiscal year.
More Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Nevada increased Tesla’s permitted Las Vegas robotaxi fleet from 10 vehicles to 5,000, providing regulatory support for the company’s autonomous-driving strategy. However, Tesla still must deploy and operate the expanded fleet successfully. Nevada robotaxi approval
- Positive Sentiment: Elon Musk teased a larger Tesla vehicle, potentially an SUV or Robovan, addressing a product gap in family-oriented vehicles and potentially expanding the company’s addressable market. Tesla Robovan teaser
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on TSLA shares. William Blair restated a "market perform" rating on shares of Tesla in a report on Thursday, July 2nd. Citizens Jmp began coverage on Tesla in a research report on Thursday, July 9th. They issued a "market perform" rating for the company. Jefferies Financial Group set a $400.00 target price on Tesla and gave the stock a "hold" rating in a research note on Monday, July 13th. Citigroup restated a "market perform" rating on shares of Tesla in a report on Monday. Finally, Truist Financial set a $370.00 price target on shares of Tesla and gave the company a "hold" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nineteen have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $401.74.
View Our Latest Research Report on Tesla
Insider Transactions at Tesla
In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 sale, the chief financial officer directly owned 22,039 shares in the company, valued at approximately $8,864,085.80. The trade was a 10.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 19.90% of the company's stock.
Tesla Profile
(
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.
Further Reading
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.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Tesla, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list.
While Tesla currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries. "Physical AI" is coming. Learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
