BLKBRD Asset Management LP Trims Holdings in Tesla, Inc. $TSLA

Key Points

• BLKBRD Asset Management sharply reduced its Tesla stake by 81% in the fourth quarter, selling 36,717 shares and leaving it with 8,639 shares worth about $3.9 million.
• Several other institutional investors increased their Tesla positions, and overall 66.2% of the stock is held by hedge funds and other institutions.
• Analyst sentiment remains mixed: Tesla has a consensus rating of “Hold” with an average price target of $404.37, while recent insider selling included shares sold by CFO Vaibhav Taneja and Director Kathleen Wilson-Thompson.

BLKBRD Asset Management LP cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 81.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,639 shares of the electric vehicle producer's stock after selling 36,717 shares during the quarter. Tesla makes up about 5.2% of BLKBRD Asset Management LP's holdings, making the stock its 12th biggest holding. BLKBRD Asset Management LP's holdings in Tesla were worth $3,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC increased its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares in the last quarter. Bison Wealth LLC increased its position in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. Sivia Capital Partners LLC increased its position in Tesla by 9.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer's stock valued at $3,855,000 after buying an additional 1,011 shares in the last quarter. Finally, AGP Franklin LLC increased its position in Tesla by 21.2% during the 2nd quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer's stock valued at $1,544,000 after buying an additional 851 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Tigress Financial assumed coverage on Tesla in a research report on Monday, April 27th. They set a "buy" rating for the company. Piper Sandler reaffirmed an "overweight" rating on shares of Tesla in a research report on Wednesday, June 10th. Bank of America assumed coverage on Tesla in a research report on Wednesday, March 4th. They set a "buy" rating and a $460.00 price objective for the company. Citigroup reaffirmed a "neutral" rating on shares of Tesla in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tesla in a research report on Friday, April 24th. Twenty-one equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $404.37.

Insiders Place Their Bets

In other Tesla 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 value of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a document filed 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. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 57,824 shares of company stock valued at $21,657,588. Corporate insiders own 19.90% of the company's stock.

Tesla Stock Down 1.6%

Tesla stock opened at $404.66 on Wednesday. The firm has a market cap of $1.52 trillion, a price-to-earnings ratio of 371.25, a PEG ratio of 16.44 and a beta of 1.80. The stock has a fifty day simple moving average of $400.24 and a two-hundred day simple moving average of $415.78. Tesla, Inc. has a 12 month low of $288.77 and a 12 month high of $498.83. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Equities analysts predict that Tesla, Inc. will post 1.19 EPS for the current fiscal year.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Goldman Sachs raised its Q2 delivery forecast for Tesla, saying shipments appear to be tracking ahead of consensus, which supports the case for stronger near-term fundamentals. Tesla Q2 deliveries "likely tracking ahead of consensus": Goldman
• Positive Sentiment: Tesla’s AI5 chip reportedly completed tape-out, reinforcing the company’s push into AI, autonomy, and custom hardware beyond its core EV business. Tesla's AI5 Chip Recently Completed Tape-Out
• Neutral Sentiment: Investors are still speculating about a Tesla-SpaceX merger, but it remains unconfirmed and faces major regulatory and execution hurdles, so it is more a valuation narrative than an immediate business catalyst. Could a Tesla-SpaceX Merger Be Closer Than Investors Think?
• Negative Sentiment: U.S. senators are urging a review of Tesla’s FSD safety data after Reuters reporting questioned the accuracy of Tesla’s self-published crash statistics, increasing regulatory and reputational risk around autonomy. US senators ask for review of Tesla's 'Full Self-Driving' safety data
• Negative Sentiment: Reuters also reported that regulators in Sweden and the Netherlands believe Tesla presented misleading FSD safety data, adding to concerns that could slow European approval efforts and weigh on sentiment. Exclusive: Tesla presented misleading ‘Full Self-Driving' safety data to European regulators

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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