Axxcess Wealth Management LLC Has $24.93 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Axxcess Wealth Management cut its Tesla stake by 9.2% in the first quarter, selling 7,054 shares and ending with 69,555 shares worth about $24.93 million.
• Institutional ownership of Tesla remains high, with hedge funds and other large investors holding 66.20% of the company’s stock; several major funds also increased or established large positions in recent periods.
• Wall Street is mixed on Tesla: analysts currently rate the stock a Hold on average with a consensus target price of $408.52, while Tesla’s latest earnings beat EPS estimates but missed revenue expectations.

Axxcess Wealth Management LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,555 shares of the electric vehicle producer's stock after selling 7,054 shares during the quarter. Axxcess Wealth Management LLC's holdings in Tesla were worth $24,925,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter valued at about $17,128,100,000. Corient Private Wealth LLC boosted 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 purchasing an additional 20,810,386 shares during the last quarter. Bank of America Corp DE grew its position in Tesla by 56.0% in the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer's stock worth $9,334,211,000 after purchasing an additional 7,450,766 shares in the last quarter. Cardano Risk Management B.V. grew its position in Tesla by 882.8% in the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer's stock worth $3,688,630,000 after purchasing an additional 7,367,507 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock valued at $116,443,762,000 after buying an additional 6,538,720 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research upgraded Tesla from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Roth Capital reissued a "buy" rating on shares of Tesla in a report on Thursday, April 23rd. DZ Bank upgraded shares of Tesla from a "sell" rating to a "hold" rating and set a $385.00 price target for the company in a research report on Friday, April 24th. Royal Bank Of Canada raised their price objective on shares of Tesla from $475.00 to $500.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Friday, June 12th. Twenty-one analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $408.52.

Tesla Stock Performance

NASDAQ TSLA opened at $402.90 on Wednesday. The company's 50 day simple moving average is $408.84 and its two-hundred day simple moving average is $410.39. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. Tesla, Inc. has a 1 year low of $293.55 and a 1 year high of $498.83. The stock has a market capitalization of $1.51 trillion, a PE ratio of 369.63, a P/E/G ratio of 16.46 and a beta of 1.80.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. Analysts predict that Tesla, Inc. will post 1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 company's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares of the company's stock, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 32,015 shares of company stock worth $12,383,640. 19.90% of the stock is owned by corporate insiders.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla reported Q2 deliveries of 480,126 vehicles, well above estimates, and revenue growth remained solid, reinforcing that demand and execution improved in the latest quarter. Massive News for Tesla Stock Investors!
• Positive Sentiment: RBC raised its price target on Tesla to $500 and kept an outperform rating, citing optimism around a possible SpaceX merger that could create additional strategic value for Elon Musk’s ecosystem. Veteran Bank Revamps Tesla Stock Price Target on Potential SpaceX Merger
• Positive Sentiment: Tesla expanded its robotaxi service to Miami, its first market outside Texas and California, which adds a new catalyst for the autonomous-driving story that bulls are betting on. Tesla (TSLA) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Several articles framed Tesla as a stock to watch ahead of its July 22 earnings report, but these pieces were more commentary than new fundamentals.
• Neutral Sentiment: Wall Street continues to split between enthusiasm for Tesla’s AI/robotaxi optionality and skepticism over whether the stock’s premium valuation is already pricing in too much future growth.
• Negative Sentiment: Despite the delivery beat, Tesla’s stock sold off as investors questioned the sustainability of the demand improvement and the market’s reaction suggested the report was not enough to support a higher share price. Tesla's Delivery Numbers Blew Past Estimates. So Why Isn't the Stock Rallying?
• Negative Sentiment: Bearish commentary also highlighted Tesla’s rich valuation and said the delivery strength may not be enough to justify the stock’s current multiple. Tesla: Even The Bull Case Doesn't Justify This Absurd Valuation
• Negative Sentiment: Some coverage also argued Tesla’s self-driving story faces new legal and regulatory pressure after a Texas manslaughter case raised fresh questions about FSD claims. Tesla's Self-Driving Story Faces New Test

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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