Biondo Investment Advisors LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,415 shares of the electric vehicle producer's stock, valued at approximately $595,000.
A number of other hedge funds have also made changes to their positions in TSLA. Turning Point Benefit Group Inc. acquired a new position in Tesla in the third quarter valued at approximately $30,000. Texas Capital Bancshares Inc TX acquired a new position in shares of Tesla in the 3rd quarter valued at $31,000. Friedenthal Financial grew its position in shares of Tesla by 66.7% in the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 30 shares during the last quarter. Chapman Financial Group LLC acquired a new stake in Tesla during the 2nd quarter worth $26,000. Finally, Harborfront Financial Group LLC acquired a new position in Tesla in the second quarter valued at $34,000. Hedge funds and other institutional investors own 66.20% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently commented on TSLA shares. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft set a $420.00 price objective on Tesla in a research note on Monday, July 27th. Wells Fargo & Company restated an "underweight" rating and set a $130.00 target price (up from $125.00) on shares of Tesla in a research report on Tuesday, July 14th. Evercore upgraded shares of Tesla from a "hold" rating to an "outperform" rating in a research report on Friday, June 5th. Finally, Erste Group Bank raised shares of Tesla from a "sell" rating to a "hold" rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $401.74.
Read Our Latest Research Report on TSLA
Insiders Place Their Bets
In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the transaction, the chief financial officer directly owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 insiders.
Key Headlines Impacting Tesla
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla began offering limited Cybercab rides in Austin, marking tangible progress toward its long-promised autonomous-vehicle strategy. The company is also soliciting interest from businesses that may purchase Cybercab fleets or provide supporting infrastructure, potentially expanding the model beyond Tesla-operated vehicles. Tesla Cybercab Hits Austin Streets
- Positive Sentiment: Tesla said the Cybercab motor uses no rare-earth metals, which could reduce supply-chain exposure. Separately, French authorities began testing Tesla’s Full Self-Driving technology, a possible step toward European regulatory progress. Cybercab Rare-Earth-Free Motor
- Neutral Sentiment: Technical analysts identified potential support around $330–$331 after the stock failed to hold resistance near $380. A successful rebound could restore momentum, but a break below roughly $347 could increase downside pressure. Tesla Forecast and Technical Levels
- Negative Sentiment: The National Highway Traffic Safety Administration opened an audit involving approximately 1,000 Cybercabs. Regulators are reviewing Tesla’s self-certification and whether a vehicle without a steering wheel, pedals or conventional mirrors complies with federal safety standards, creating potential approval and rollout delays. NHTSA Cybercab Probe
- Negative Sentiment: Analysts and financial media characterized the event as underwhelming, citing limited updates and unanswered questions about manufacturing scale, commercialization and economics. Bearish commentary—including a reiterated sell rating and an extreme downside forecast—added to the pressure, especially given Tesla’s very high earnings multiple and recent EPS miss. Tesla Stock Drops After Cybercab Update
Tesla Stock Down 5.9%
Shares of NASDAQ TSLA opened at $354.08 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $358.22 and a 200 day moving average price of $383.10. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83. The stock has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 327.85, a price-to-earnings-growth ratio of 17.88 and a beta of 1.84.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company had revenue of $28.24 billion during the quarter, compared to analysts' expectations of $26.42 billion. During the same period last year, the business posted $0.33 earnings per share. The company's quarterly revenue was up 25.5% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 0.88 EPS for the current fiscal year.
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
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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.
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