Cardinal Point Capital Management ULC Has $7.71 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Cardinal Point Capital Management ULC increased its Tesla stake by 19.6% in the first quarter, ending with 20,742 shares valued at about $7.71 million.
• Several other large institutional investors also boosted or maintained major Tesla positions, and institutions and hedge funds now own 66.20% of the company.
• News flow around Tesla was mixed: positive items included Germany production expansion and energy-business deals, while negative headlines centered on fresh federal scrutiny of Full Self-Driving safety and ongoing legal risk.

Cardinal Point Capital Management ULC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,742 shares of the electric vehicle producer's stock after acquiring an additional 3,402 shares during the quarter. Cardinal Point Capital Management ULC's holdings in Tesla were worth $7,711,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock worth $116,443,762,000 after buying an additional 6,538,720 shares during the last quarter. State Street Corp increased its stake in Tesla by 0.9% during the fourth quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer's stock valued at $51,647,164,000 after acquiring an additional 1,080,085 shares during the period. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 375,946 shares in the last quarter. Capital World Investors raised its holdings in Tesla by 5.8% in the 3rd quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer's stock valued at $19,583,547,000 after acquiring an additional 2,403,019 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Tesla in the 4th quarter worth approximately $17,128,100,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Analysts remained constructive on Tesla’s longer-term growth story, with one Seeking Alpha piece upgrading the stock and arguing that two previously speculative “moonshots” are becoming medium-term catalysts. Tesla: 2 Moonshots Have Now Become Medium-Term Catalysts (Rating Upgrade)
• Positive Sentiment: Tesla announced expansion plans in Germany, including higher production at Gigafactory Berlin, which supports the narrative that demand is improving in Europe. Tesla Expands Production In Germany, As VW Cuts 100,000 Jobs
• Positive Sentiment: Tesla also benefited from headlines around its energy business, including a major 16-gigawatt power partnership with Sunrun and Renew Home that could strengthen Tesla Energy’s growth profile. Tesla (TSLA) Lands 16 Gigawatt U.S. Power Plant Deal And 25 Gigawatt Hour Europe Pact
• Neutral Sentiment: Elon Musk’s teaser about a highly advanced next-generation Roadster and other futuristic ambitions may support the long-term story, but it is not an immediate fundamental catalyst. Elon Musk Teases Flying Tesla Roadster With Crazy Tech
• Negative Sentiment: Tesla is facing renewed federal scrutiny after a fatal Model 3 crash, including an NHTSA probe and a separate NTSB investigation, which raises fresh concerns about Full Self-Driving safety. Tesla Under Fresh Scrutiny After Model 3 Crashes Into Home, Killing Woman
• Negative Sentiment: Tesla also settled a lawsuit tied to a fatal Full Self-Driving crash while federal investigations continue, reinforcing investor worries about legal liability and autonomy risk. Tesla settles FSD crash lawsuit as federal investigations continue
• Negative Sentiment: Several market commentaries argued that Tesla remains expensive relative to its current fundamentals, with valuation skepticism and underperformance concerns weighing on sentiment. Tesla Stock Is Having a Bad Week and an Even Worse Month

Tesla Trading Up 1.2%

Shares of TSLA stock opened at $379.71 on Friday. The company has a market capitalization of $1.43 trillion, a P/E ratio of 348.36, a P/E/G ratio of 14.99 and a beta of 1.80. Tesla, Inc. has a 12-month low of $288.77 and a 12-month 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 firm has a 50-day moving average price of $405.62 and a 200 day moving average price of $413.17.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its 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 company had revenue of $22.39 billion during 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%. Tesla's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. Research analysts forecast that Tesla, Inc. will post 1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TSLA shares. Roth Mkm restated a "buy" rating on shares of Tesla in a research report on Thursday, April 23rd. Citigroup reissued a "neutral" rating on shares of Tesla in a report on Tuesday, June 16th. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a research report on Thursday, June 11th. Evercore raised shares of Tesla from a "hold" rating to an "outperform" rating in a research report on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Tesla in a report on Friday, June 5th. They set a "buy" rating on the stock. Twenty-one investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $403.07.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 3,000 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the chief financial officer owned 18,106 shares in the company, valued at $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 SEC, which is available 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 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 transaction, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was 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. Over the last ninety days, insiders sold 57,824 shares of company stock valued at $21,657,588. 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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