Bleakley Financial Group LLC Increases Stock Position in Tesla, Inc. $TSLA

Key Points

• Bleakley Financial Group increased its Tesla stake by 7.8% in the fourth quarter, ending with 102,669 shares valued at about $46.2 million.
• Several other hedge funds also boosted holdings, and 66.20% of Tesla stock is now owned by hedge funds and other institutional investors, highlighting continued institutional interest.
• Recent news flow around Tesla has been positive, including attention on a possible SpaceX IPO tie-in, reports of Full Self-Driving rollout in China, and Elon Musk’s defense of the company’s brand and Model Y demand.

Bleakley Financial Group LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,669 shares of the electric vehicle producer's stock after acquiring an additional 7,440 shares during the period. Bleakley Financial Group LLC's holdings in Tesla were worth $46,172,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC boosted its holdings in Tesla by 34.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer's stock worth $8,799,000 after buying an additional 5,039 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Tesla by 29.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer's stock worth $14,487,000 after buying an additional 7,446 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Tesla by 8.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer's stock worth $21,571,000 after buying an additional 3,935 shares during the period. Calamos Wealth Management LLC boosted its holdings in Tesla by 5.9% in the 4th quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer's stock worth $18,846,000 after buying an additional 2,341 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in Tesla by 26.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 18,032 shares of the electric vehicle producer's stock worth $8,019,000 after buying an additional 3,724 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s indirect exposure to SpaceX is getting more attention as SpaceX moves toward an IPO, and some investors are viewing that stake as an added source of upside for TSLA beyond its core auto business. Did Tesla's SpaceX Stake And China FSD Rollout Just Reframe TSLA's AI And Autonomy Story?
• Positive Sentiment: Reports that Tesla has rolled out Full Self-Driving (Supervised) in China are helping support the company’s long-term autonomy narrative and could improve investor confidence in future software-driven revenue growth. Weekend Round-Up: Tesla's FSD In China, Nvidia's Uber Partnership, Boeing's 737 Max Case Victory And More
• Positive Sentiment: Elon Musk pushed back on criticism that his politics are hurting Tesla’s brand, while also reiterating that the Model Y remains a sales leader, which may reassure some investors about demand resilience. Elon Musk Hits Back At Tesla Brand Damage Critics, Reaffirms Model Y's Sales Dominance

Tesla Price Performance

Shares of TSLA stock opened at $426.01 on Tuesday. The stock has a market cap of $1.60 trillion, a P/E ratio of 390.83, a PEG ratio of 16.82 and a beta of 1.79. Tesla, Inc. has a 52 week low of $273.21 and a 52 week high of $498.83. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The company's fifty day simple moving average is $388.38 and its two-hundred day simple moving average is $416.42.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to analysts' expectations of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS. Analysts predict that Tesla, Inc. will post 1.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. DZ Bank raised shares of Tesla from a "sell" rating to a "hold" rating and set a $385.00 target price for the company in a report on Friday, April 24th. BNP Paribas Exane raised shares of Tesla from an "underperform" rating to a "neutral" rating in a report on Monday, April 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $510.00 target price on shares of Tesla in a report on Wednesday, April 22nd. JPMorgan Chase & Co. reaffirmed a "sell" rating on shares of Tesla in a report on Wednesday, April 22nd. Finally, UBS Group upped their target price on shares of Tesla from $352.00 to $364.00 and gave the stock a "neutral" rating in a report on Wednesday, May 13th. Nineteen analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $395.20.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their position. The sale was disclosed in a filing 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 3,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% 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. In the last quarter, insiders sold 83,213 shares of company stock worth $32,201,105. Corporate insiders own 19.90% of the company's stock.

Tesla 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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