Centric Wealth Management Makes New Investment in Tesla, Inc. $TSLA

Key Points

• Centric Wealth Management acquired 8,875 Tesla shares worth approximately $3.48 million during the second quarter. Institutional investors collectively own 66.2% of Tesla’s outstanding stock.
• Tesla’s CFO sold 2,606 shares for roughly $1.05 million to cover tax withholding tied to vested equity awards; insiders still own 19.9% of the company.
• Tesla shares opened at $348.75, while analysts maintain a consensus “Hold” rating with an average price target of $401.74. The company exceeded revenue expectations in its latest quarter but missed earnings estimates, amid concerns over its valuation, margins, recalls and autonomous-driving risks.

Centric Wealth Management acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,875 shares of the electric vehicle producer's stock, valued at approximately $3,484,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised 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 purchasing an additional 1,080,085 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tesla by 0.6% during 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 position in Tesla in the fourth quarter valued at approximately $17,128,100,000. Amundi boosted its holdings in 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 buying an additional 2,727,141 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer's stock valued at $9,650,811,000 after acquiring an additional 20,810,386 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares in the company, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing 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. Company insiders own 19.90% of the company's stock.

Tesla Trading Down 1.7%

Shares of Tesla stock opened at $348.75 on Friday. The company has a fifty day simple moving average of $360.33 and a 200-day simple moving average of $385.15. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12-month low of $297.38 and a 12-month high of $498.83. The stock has a market cap of $1.38 trillion, a price-to-earnings ratio of 322.92, a PEG ratio of 17.91 and a beta of 1.83.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The firm had revenue of $28.24 billion during the quarter, compared to analysts' expectations of $26.42 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm's revenue for the quarter was up 25.5% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 0.88 EPS for the current fiscal year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla is expanding its robotaxi operation beyond Austin and Miami, with longer service hours and a larger unsupervised fleet. State regulators have also approved permits for Tesla to operate robotaxis, supporting the company’s strategy to monetize autonomous driving. Tesla robotaxi expansion
• Positive Sentiment: Tesla is preparing an August Cybercab rollout beginning with employee rides, while Cybercab production has reportedly started. Investors view the vehicle and robotaxi network as potential long-term revenue opportunities not yet fully reflected in the stock. Cybercab rollout
• Positive Sentiment: Optimus humanoid robot production has reportedly begun at Tesla’s Fremont facility, and the company is installing additional robotics manufacturing lines. The development strengthens the long-term artificial-intelligence and automation narrative, although meaningful financial benefits may take time. Optimus production
• Positive Sentiment: Commercial truckmaker Einride expects to receive approximately 75 Tesla Semi trucks in 2026, with the remainder of its 500-truck order scheduled for 2027. The timeline provides evidence of commercial demand, though deliveries will be spread over several years. Einride Tesla Semi order
• Neutral Sentiment: Tesla announced a September 24 Semi event that could provide updates on autonomous trucking and production plans, making it a potential catalyst but offering no immediate earnings impact. Tesla Semi event
• Negative Sentiment: Tesla is voluntarily recalling about 3 million vehicles in China over door handles that may fail after severe crashes and inadequate driver-attention monitoring. The recall adds regulatory, cost and reputational risks to the company’s autonomy push. Tesla China recall
• Negative Sentiment: Criticism intensified after a vehicle using Tesla’s latest FSD software reportedly nearly drove into a train, renewing concerns about system reliability and the gap between supervised assistance and fully autonomous driving. Tesla FSD incident
• Negative Sentiment: Analysts and investors continue to question Tesla’s valuation because weak margins and traditional EV risks are not easily reconciled with a price-to-earnings ratio above 300. Toyota’s rising electrified-vehicle volume and broader EV competition further challenge Tesla’s automotive leadership.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TSLA shares. BMO Capital Markets assumed coverage on shares of Tesla in a research report on Monday, August 17th. They set an "outperform" rating for the company. HSBC reissued a "hold" rating on shares of Tesla in a research report on Monday, June 15th. Roth Capital reissued a "buy" rating and set a $505.00 target price on shares of Tesla in a research note on Thursday, July 23rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $475.00 to $445.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nineteen have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $401.74.

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.

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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