Geode Capital Management LLC Raises Stock Position in Tesla, Inc. $TSLA

Key Points

• Geode Capital Management increased its Tesla stake by 0.6% in the fourth quarter, adding 375,946 shares to bring its total to 65.7 million shares. The position was valued at about $29.4 billion and represented 1.8% of Geode’s portfolio.
• Institutional ownership remains heavy, with 66.2% of Tesla shares held by institutional investors. Several other hedge funds also boosted their positions in the stock during recent quarters.
• Tesla’s latest earnings topped EPS estimates, but revenue came in below expectations; meanwhile, analysts remain mixed with an average Hold rating and a consensus price target of $395.20. The article also notes recent insider selling by a director and the CFO.

Geode Capital Management LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,700,975 shares of the electric vehicle producer's stock after purchasing an additional 375,946 shares during the quarter. Tesla comprises 1.8% of Geode Capital Management LLC's holdings, making the stock its 9th biggest position. Geode Capital Management LLC owned approximately 1.75% of Tesla worth $29,426,070,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TSLA. Brighton Jones LLC lifted its position in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC lifted its position in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Tesla by 9.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer's stock valued at $3,855,000 after purchasing an additional 1,011 shares during the last quarter. Finally, AGP Franklin LLC increased its stake in Tesla by 21.2% during the 2nd quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer's stock valued at $1,544,000 after buying an additional 851 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Trending Headlines about 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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $510.00 target price on shares of Tesla in a research note on Wednesday, April 22nd. UBS Group raised their target price on shares of Tesla from $352.00 to $364.00 and gave the company a "neutral" rating in a research note on Wednesday, May 13th. Piper Sandler reissued an "overweight" rating on shares of Tesla in a research note on Thursday, January 29th. Phillip Securities lowered their target price 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. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Thursday, April 23rd. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $395.20.

Tesla Stock Up 1.6%

NASDAQ TSLA opened at $440.36 on Thursday. Tesla, Inc. has a 12 month low of $273.21 and a 12 month high of $498.83. The company has a market capitalization of $1.65 trillion, a P/E ratio of 404.00, a PEG ratio of 17.12 and a beta of 1.79. The company's 50 day simple moving average is $390.12 and its 200 day simple moving average is $416.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The firm 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%. The firm's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. Equities research analysts expect that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $1,350,000.00. Following the sale, the chief financial officer directly owned 18,106 shares in the company, valued at $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $21,508,331. Corporate insiders own 19.90% of the company's stock.

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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