HITE Hedge Asset Management LLC Takes Position in Tesla, Inc. $TSLA

Key Points

• HITE Hedge Asset Management initiated a new position in Tesla during the fourth quarter, buying 4,479 shares valued at about $2.0 million.
• Institutional ownership remains high, with several other funds also adding to Tesla positions; overall, 66.2% of the stock is owned by institutions.
• Tesla reported quarterly EPS of $0.41, topping estimates, but revenue of $22.39 billion came in below expectations. Analysts currently rate the stock a consensus “Hold” with an average target price of $404.37.

HITE Hedge Asset Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,479 shares of the electric vehicle producer's stock, valued at approximately $2,014,000.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Crestwood Advisors Group LLC lifted its position in Tesla by 34.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer's stock worth $8,799,000 after buying an additional 5,039 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in Tesla by 29.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer's stock worth $14,487,000 after buying an additional 7,446 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Tesla by 8.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer's stock worth $21,571,000 after purchasing an additional 3,935 shares during the last quarter. Calamos Wealth Management LLC increased its stake in shares of Tesla by 5.9% during the 4th quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer's stock worth $18,846,000 after purchasing an additional 2,341 shares during the last quarter. Finally, Private Capital Advisors Inc. increased its stake in shares of Tesla by 139.3% during the 4th quarter. Private Capital Advisors Inc. now owns 21,331 shares of the electric vehicle producer's stock worth $9,593,000 after purchasing an additional 12,417 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $406.43 on Friday. Tesla, Inc. has a 1 year low of $288.77 and a 1 year high of $498.83. The firm's fifty day simple moving average is $398.35 and its 200 day simple moving average is $416.01. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.53 trillion, a PE ratio of 372.87, a PEG ratio of 15.96 and a beta of 1.80.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Tigress Financial assumed coverage on shares of Tesla in a research note on Monday, April 27th. They set a "buy" rating on the stock. Phillip Securities dropped their price target 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. Robert W. Baird dropped their price target on shares of Tesla from $538.00 to $522.00 and set an "outperform" rating on the stock in a research note on Friday, April 24th. DZ Bank upgraded shares of Tesla from a "sell" rating to a "hold" rating and set a $385.00 price target on the stock in a research note on Friday, April 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Tesla in a research note on Monday, June 1st. Twenty-two analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $404.37.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla is still benefiting from its autonomy and AI story, with reports highlighting its unsupervised robotaxi rollout and expanded Full Self-Driving approvals in Europe, including Belgium and Denmark. Tesla Robotaxi Rollout And FSD Expansion Test Rich Valuation Narrative
• Positive Sentiment: Some analysts remain constructive on Tesla’s long-term growth, pointing to underappreciated opportunities in autonomous vehicles, humanoid robotics, and energy storage, which supports the bull case despite near-term volatility. JPMorgan Echoes Why Tesla, Inc. (TSLA) is One of the Best Forever Stocks to Buy
• Neutral Sentiment: There is also ongoing merger speculation between Tesla and SpaceX, with Gwynne Shotwell saying a tie-up “might make Elon's life a little easier,” but this remains highly speculative and not an immediate business catalyst. SpaceX COO Shotwell says Tesla tie-up ‘might make Elon's life a little easier'
• Neutral Sentiment: New articles comparing Tesla with BYD and discussing how SpaceX’s debut compares with Tesla’s history are mostly narrative-driven and do not change Tesla’s fundamentals by themselves. Is it too late to buy SpaceX's stock? Here's how Tesla's did after one day and five years.
• Negative Sentiment: Multiple pieces say Tesla may be losing investor attention to SpaceX, with fears that capital is being redirected to the high-profile IPO; that dynamic has weighed on TSLA sentiment. What's Going On With Tesla Stock Friday
• Negative Sentiment: Bearish commentary also remains in the background, including a Glj Research “sell” reaffirmation and articles arguing Tesla’s battery advantage is thinning, which adds pressure on valuation concerns. Tesla: The Battery Moat Is Becoming Thinner

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the sale, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares in the company, valued at $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 57,824 shares of company stock worth $21,657,588 over the last 90 days. Company 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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