CrossGen Wealth LLC Increases Stock Holdings in Tesla, Inc. $TSLA

Key Points

• CrossGen Wealth LLC boosted its Tesla stake by 272.3% in the first quarter, ending with 1,858 shares valued at about $691,000.
• Institutional ownership remains a major factor in Tesla’s stock, with hedge funds and other institutions holding 66.20% of the company. Several other funds also increased positions recently.
• Tesla’s stock was trading up 8.5% to $411.84, while the company continues to draw attention from analysts and investors ahead of its next delivery report and amid ongoing debate over its autonomy/FSD outlook.

CrossGen Wealth LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 272.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,858 shares of the electric vehicle producer's stock after acquiring an additional 1,359 shares during the period. CrossGen Wealth LLC's holdings in Tesla were worth $691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crestwood Advisors Group LLC grew its stake in shares of Tesla by 34.7% during the fourth quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer's stock valued at $8,799,000 after acquiring an additional 5,039 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Tesla by 29.6% in the third quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer's stock worth $14,487,000 after acquiring an additional 7,446 shares in the last quarter. Calamos Wealth Management LLC boosted its holdings in Tesla by 5.9% in the fourth quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer's stock valued at $18,846,000 after purchasing an additional 2,341 shares during the last quarter. Private Capital Advisors Inc. boosted its holdings in Tesla by 139.3% in the fourth quarter. Private Capital Advisors Inc. now owns 21,331 shares of the electric vehicle producer's stock valued at $9,593,000 after purchasing an additional 12,417 shares during the last quarter. Finally, Wealthquest Corp acquired a new stake in Tesla during the 4th quarter valued at approximately $1,035,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 8.5%

NASDAQ:TSLA opened at $411.84 on Tuesday. 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 business's 50 day moving average is $406.07 and its two-hundred day moving average is $412.75. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The company has a market cap of $1.55 trillion, a PE ratio of 377.83, a P/E/G ratio of 15.18 and a beta of 1.80.

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

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s FSD V14 Lite rollout and software boost for older cars renewed enthusiasm around its self-driving and robotaxi prospects. Tesla's stock rips higher after a long-awaited update to self-driving technology
• Positive Sentiment: Strong pre-delivery optimism continues, with Morgan Stanley raising its Q2 delivery estimate on better Europe and China trends. Morgan Stanley Lifts Tesla Delivery Forecast on Stronger Europe and China Demand (TSLA)
• Positive Sentiment: Bullish sector sentiment and a tech rebound lifted EV stocks broadly, adding momentum to TSLA. TSLA, LCID, RIVN: Here’s Why EV Stocks Are Surging Today
• Neutral Sentiment: Investors are awaiting Tesla’s Q2 delivery report, which remains a key near-term catalyst. Tesla Reports Q2 Deliveries in a Matter of Days. Here's the Number That Matters.
• Negative Sentiment: Some analysts still say Tesla’s valuation depends on much higher FSD performance, showing continued skepticism around autonomy timelines. Tesla Stock (TSLA) Won’t Beat the Nasdaq Until FSD Hits 99.99%, Analyst Warns

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction on 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 directly owned 18,106 shares of the company's stock, valued at approximately $8,147,700. This represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction 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. 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. Insiders have sold 32,015 shares of company stock worth $12,383,640 over the last 90 days. 19.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TSLA shares. Barclays restated a "neutral" rating on shares of Tesla in a report on Wednesday, May 13th. The Goldman Sachs Group began coverage on shares of Tesla in a research report on Friday, June 5th. They set a "buy" rating for the company. Citigroup restated a "neutral" rating on shares of Tesla in a research note on Tuesday, June 16th. Canaccord Genuity Group upped their price target on shares of Tesla from $420.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Finally, HSBC reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 15th. Twenty-one analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $403.07.

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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