D.B. Root & Company LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,276 shares of the electric vehicle producer's stock, valued at approximately $1,798,000.
Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Chapman Financial Group LLC acquired a new stake in Tesla during the 2nd quarter worth about $26,000. Friedenthal Financial raised its stake in shares of Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 30 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new position in shares of Tesla in the third quarter worth about $30,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of Tesla during the third quarter worth about $31,000. Finally, Harborfront Financial Group LLC purchased a new stake in Tesla in the second quarter valued at approximately $34,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on TSLA shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Tesla in a research report on Tuesday, July 21st. Evercore raised shares of Tesla from a "hold" rating to an "outperform" rating in a report on Friday, June 5th. Phillip Securities cut their price objective on shares of Tesla from $220.00 to $215.00 and set a "sell" rating on the stock in a research note on Wednesday, May 13th. BTIG Research downgraded shares of Tesla to a "neutral" rating in a research report on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft set a $420.00 price target on shares of Tesla in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $401.74.
Check Out Our Latest Analysis on TSLA
Key Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla began offering limited Cybercab rides in Austin, marking tangible progress toward its long-promised autonomous-vehicle strategy. The company is also soliciting interest from businesses that may purchase Cybercab fleets or provide supporting infrastructure, potentially expanding the model beyond Tesla-operated vehicles. Tesla Cybercab Hits Austin Streets
- Positive Sentiment: Tesla said the Cybercab motor uses no rare-earth metals, which could reduce supply-chain exposure. Separately, French authorities began testing Tesla’s Full Self-Driving technology, a possible step toward European regulatory progress. Cybercab Rare-Earth-Free Motor
- Neutral Sentiment: Technical analysts identified potential support around $330–$331 after the stock failed to hold resistance near $380. A successful rebound could restore momentum, but a break below roughly $347 could increase downside pressure. Tesla Forecast and Technical Levels
- Negative Sentiment: The National Highway Traffic Safety Administration opened an audit involving approximately 1,000 Cybercabs. Regulators are reviewing Tesla’s self-certification and whether a vehicle without a steering wheel, pedals or conventional mirrors complies with federal safety standards, creating potential approval and rollout delays. NHTSA Cybercab Probe
- Negative Sentiment: Analysts and financial media characterized the event as underwhelming, citing limited updates and unanswered questions about manufacturing scale, commercialization and economics. Bearish commentary—including a reiterated sell rating and an extreme downside forecast—added to the pressure, especially given Tesla’s very high earnings multiple and recent EPS miss. Tesla Stock Drops After Cybercab Update
Tesla Stock Performance
TSLA opened at $354.08 on Friday. The firm has a fifty day moving average price of $358.22 and a 200 day moving average price of $383.10. Tesla, Inc. has a 1 year low of $297.38 and a 1 year high of $498.83. The stock has a market cap of $1.40 trillion, a P/E ratio of 327.85, a P/E/G ratio of 17.88 and a beta of 1.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.94 and a quick ratio of 1.55.
Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS 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 for the quarter, compared to analyst estimates of $26.42 billion. During the same quarter in the prior year, the business posted $0.33 EPS. The firm's quarterly revenue was up 25.5% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 0.88 earnings per share for the current year.
Insider Activity
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 sale, the chief financial officer directly owned 22,039 shares of the company's stock, valued at $8,864,085.80. This represents a 10.57% decrease in their position. 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. 19.90% of the stock is currently owned by insiders.
Tesla Company Profile
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Free Report)
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.
Further Reading
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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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