Fisher Asset Management LLC Raises Holdings in Tesla, Inc. $TSLA

Key Points

• Fisher Asset Management increased its Tesla stake by 14.9% in the fourth quarter, buying 4,574 additional shares and bringing its total holdings to 35,196 shares worth about $15.8 million.
• Institutional ownership remains high, with 66.20% of Tesla shares held by hedge funds and other institutional investors, and several smaller funds also adding new positions.
• Analyst sentiment is mixed: Tesla currently carries an average “Hold” rating with an average price target of $395.20, even as some firms have recently reiterated bullish or neutral views.

Fisher Asset Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,196 shares of the electric vehicle producer's stock after purchasing an additional 4,574 shares during the period. Fisher Asset Management LLC's holdings in Tesla were worth $15,829,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. Networth Advisors LLC purchased a new stake in Tesla during the 4th quarter valued at $26,000. Chapman Financial Group LLC bought a new position in shares of Tesla during the 2nd quarter valued at $26,000. Davidson Capital Management Inc. lifted its holdings in shares of Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 27 shares during the period. Prism Advisors Inc. bought a new position in shares of Tesla during the 4th quarter valued at $30,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Tesla during the 3rd quarter valued at $30,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler reissued an "overweight" rating on shares of Tesla in a report on Thursday, January 29th. Morgan Stanley set a $415.00 price target on Tesla and gave the company an "equal weight" rating in a report on Thursday, January 29th. Bank of America assumed coverage on Tesla in a report on Wednesday, March 4th. They set a "buy" rating and a $460.00 price target on the stock. Royal Bank Of Canada reissued a "buy" rating on shares of Tesla in a report on Monday, April 27th. Finally, UBS Group increased their price target on Tesla from $352.00 to $364.00 and gave the company a "neutral" rating in a report on Wednesday, May 13th. Nineteen analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $395.20.

Insider Transactions at Tesla

In other Tesla news, 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 sale, the director directly owned 48,399 shares of the company's stock, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the sale, the chief financial officer directly owned 18,106 shares in the company, valued at approximately $8,147,700. This represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 57,482 shares of company stock worth $21,508,331. Insiders own 19.90% of the company's stock.

Tesla Price Performance

Shares of Tesla stock opened at $440.36 on Thursday. Tesla, Inc. has a one year low of $273.21 and a one year high of $498.83. The stock's fifty day moving average is $390.12 and its 200 day moving average is $416.18. The stock has a market cap of $1.65 trillion, a P/E ratio of 404.00, a P/E/G ratio of 17.12 and a beta of 1.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to analysts' expectations 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 last year, the firm earned $0.27 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current year.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European sales momentum appears to be improving, with multiple reports citing April registrations up sharply year over year and suggesting the EV business is regaining traction after a long slump. Tesla Logs Strong Growth in European Monthly Sales
• Positive Sentiment: Wall Street is also focusing on Tesla’s robotaxi and Optimus opportunities, with coverage saying a new patent could protect future revenue drivers and that the stock is approaching a technical breakout setup. Tesla Patent Could Protect Two Biggest Future Revenue Drivers: Here's Why 'Lens Cleaning System' May Matter
• Positive Sentiment: Renewed speculation around a possible SpaceX-Tesla tie-up is adding excitement, with reports and commentary suggesting the rumored SpaceX IPO could become a major long-term catalyst for Tesla shareholders. SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq

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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