Greenwood Gearhart LLC Has $15.28 Million Position in Tesla, Inc. $TSLA

Key Points

• Greenwood Gearhart increased its Tesla stake by 4.9% in the second quarter, ending with 36,324 shares valued at approximately $15.28 million. Institutional investors collectively own 66.2% of Tesla.
• Tesla shares opened at $345.82, down 1.3%, while analysts’ consensus rating remained “Hold” with an average price target of $401.74. Recent targets ranged from $450 to $505.
• Tesla’s latest quarterly revenue rose 25.5% year over year to $28.24 billion, but adjusted earnings of $0.33 per share missed estimates of $0.50. Nevada’s expansion of Tesla’s permitted Las Vegas robotaxi fleet from 10 to 5,000 vehicles provided regulatory support for its autonomous-driving strategy.

Greenwood Gearhart LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,324 shares of the electric vehicle producer's stock after buying an additional 1,705 shares during the quarter. Greenwood Gearhart LLC's holdings in Tesla were worth $15,278,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Norges Bank bought a new position in shares of Tesla during the fourth quarter valued at $17,128,100,000. Corient Private Wealth LLC increased its holdings in Tesla by 3,205.5% in the fourth 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 purchasing an additional 20,810,386 shares during the period. Bank of America Corp DE increased its holdings in Tesla by 56.0% in the fourth quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer's stock valued at $9,334,211,000 after purchasing an additional 7,450,766 shares during the period. Cardano Risk Management B.V. raised its position in Tesla by 882.8% during the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer's stock worth $3,688,630,000 after purchasing an additional 7,367,507 shares during the last quarter. Finally, H&H International Investment LLC acquired a new position in Tesla during the 1st quarter worth about $1,267,259,000. 66.20% of the stock is owned by institutional investors.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada increased Tesla’s permitted Las Vegas robotaxi fleet from 10 vehicles to 5,000, providing regulatory support for the company’s autonomous-driving strategy. However, Tesla still must deploy and operate the expanded fleet successfully. Nevada robotaxi approval
• Positive Sentiment: Elon Musk teased a larger Tesla vehicle, potentially an SUV or Robovan, addressing a product gap in family-oriented vehicles and potentially expanding the company’s addressable market. Tesla Robovan teaser

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on 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 transaction, the chief financial officer owned 22,039 shares in the company, valued at $8,864,085.80. The trade was a 10.57% decrease in their position. The transaction was disclosed in a legal filing 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. 19.90% of the stock is owned by insiders.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Citigroup reissued a "market perform" rating on shares of Tesla in a research note on Monday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Tuesday, July 28th. Roth Capital reissued a "buy" rating and set a $505.00 target price on shares of Tesla in a research report on Thursday, July 23rd. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price target (down from $510.00) on shares of Tesla in a report on Thursday, July 23rd. Finally, Piper Sandler reduced their price objective on shares of Tesla from $500.00 to $450.00 and set an "overweight" rating on the stock in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $401.74.

Tesla Stock Down 1.3%

Shares of Tesla stock opened at $345.82 on Thursday. The stock's 50-day moving average is $362.28 and its 200 day moving average is $385.80. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 320.21, a PEG ratio of 17.68 and a beta of 1.83. 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 issued its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). The business had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%.The company's revenue for the quarter was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 0.88 EPS for the current year.

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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