Bank of America Corp DE Has $7.05 Billion Stock Position in Tesla, Inc. $TSLA

Bank of America Corp DE lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,962,828 shares of the electric vehicle producer's stock after selling 1,792,777 shares during the period. Bank of America Corp DE owned about 0.50% of Tesla worth $7,049,431,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TSLA. Vanguard Group Inc. raised its position in Tesla by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock worth $116,443,762,000 after purchasing an additional 6,538,720 shares during the last quarter. State Street Corp grew its position in shares of Tesla by 0.9% in the 4th quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer's stock valued at $51,647,164,000 after buying an additional 1,080,085 shares during the last quarter. Geode Capital Management LLC grew 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 during the last quarter. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter valued at about $17,128,100,000. Finally, Amundi raised its position in shares of Tesla by 14.0% during the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer's stock worth $8,243,513,000 after acquiring an additional 2,727,141 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other 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 completion of the sale, the chief financial officer owned 22,039 shares in the company, valued at $8,864,085.80. The trade was a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is owned by corporate insiders.

Tesla Trading Down 3.0%

NASDAQ TSLA opened at $298.32 on Thursday. The business has a 50 day simple moving average of $394.41 and a 200 day simple moving average of $399.48. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83. The stock has a market capitalization of $1.18 trillion, a P/E ratio of 276.22, a P/E/G ratio of 15.71 and a beta of 1.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.94 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 business 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%. Tesla's quarterly revenue was up 25.5% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Research analysts expect that Tesla, Inc. will post 0.9 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on TSLA shares. Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a research note on Thursday, July 23rd. Phillip Securities decreased their target price on shares of Tesla from $220.00 to $215.00 and set a "sell" rating for the company in a research report on Wednesday, May 13th. Piper Sandler lowered their price target on shares of Tesla from $500.00 to $450.00 and set an "overweight" rating for the company in a report on Friday, July 24th. Glj Research restated a "sell" rating on shares of Tesla in a research report on Tuesday, July 21st. Finally, Citigroup initiated coverage on shares of Tesla in a research note on Thursday, July 9th. They issued a "market perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $402.24.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s long-term growth initiatives received support from Cathie Wood’s ARK Invest, which continued buying Tesla shares after the selloff. Some analysts also maintain bullish targets based on potential growth in Full Self-Driving, robotaxis and Optimus humanoid robots. Cathie Wood Doubles Down on Tesla Stock
• Positive Sentiment: The company signed long-term renewable-power purchase agreements in Arizona and Texas, while its Optimus division expanded teleoperation capabilities through an acquisition from Virtuix. These moves support Tesla’s energy and robotics strategies, although they are not yet major earnings contributors. Tesla Secures Long-Term Power Deals and Expands Optimus Teleoperation
• Positive Sentiment: Technical indicators show TSLA is at its most oversold level in more than a year, raising the possibility of a short-term rebound. Morningstar also described the post-earnings decline as an attractive buying opportunity. Tesla Stock Hasn't Been This Oversold in More Than a Year
• Neutral Sentiment: Tesla won a bid to revive a UK lawsuit involving 5G patent licensing, but the legal development is unlikely to materially change near-term financial results. Tesla Wins Bid to Revive UK Lawsuit
• Negative Sentiment: Second-quarter EPS missed estimates by approximately 34%, despite a revenue beat. Operating income fell sharply, free cash flow turned negative and capital expenditures rose substantially, intensifying concerns about margins and cash generation.
• Negative Sentiment: The stock has fallen for five straight sessions and is trading below key moving averages, near its 52-week low. Although the shares are oversold, valuation remains elevated relative to current automotive earnings, leaving little room for execution disappointments. Tesla Stock Breaks $300
• Negative Sentiment: Investor confidence is also being pressured by delays and execution risks surrounding robotaxis and Optimus, increased competition from Ford and BYD, and the strong performance of bearish Tesla ETFs. Tesla Stock Suffered Its Worst Week Since 2022

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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