Legal & General Group Plc Acquires 1,043,213 Shares of Tesla, Inc. $TSLA

Key Points

• Legal & General Group Plc increased its Tesla stake by 5.5% in the fourth quarter, adding 1,043,213 shares and bringing its total holdings to 20,181,227 shares worth about $9.08 billion.
• Institutional ownership remains heavy, with 66.2% of Tesla shares held by institutions and hedge funds. Several other investors also boosted their positions in the stock during the period.
• Tesla is still seeing mixed sentiment: analysts currently rate it a Hold on average, while recent headlines highlight both optimism around FSD/autonomy and concerns over valuation, recalls, and insider selling.

Legal & General Group Plc lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,181,227 shares of the electric vehicle producer's stock after acquiring an additional 1,043,213 shares during the period. Tesla makes up approximately 2.0% of Legal & General Group Plc's investment portfolio, making the stock its 9th largest position. Legal & General Group Plc owned about 0.54% of Tesla worth $9,075,901,000 at the end of the most recent quarter.

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

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Full Self-Driving rollout in China and subscription-based FSD availability in Europe bolster the case that autonomy could become a bigger growth driver. Article Title
• Positive Sentiment: Some analysts and commentators continue to frame Tesla as a robotics and AI company, with bullish chatter around Optimus and the company’s long-term pivot away from being just an automaker. Article Title
• Neutral Sentiment: SpaceX’s IPO has dominated investor attention, and while it highlights Musk’s ecosystem, the market is debating whether it will ultimately help Tesla or distract capital and attention away from TSLA. Article Title
• Negative Sentiment: Reuters reported Tesla is recalling 14,575 Model Y SUVs in the U.S. over a missing weight certification label, adding another quality-control issue to the stock’s recent concerns. Article Title
• Negative Sentiment: Several articles warn that Tesla’s valuation remains stretched and that FSD still faces execution questions, with critics saying the technology is not yet ready to justify the stock’s premium. Article Title

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of analyst reports. Canaccord Genuity Group increased their price objective on shares of Tesla from $420.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, April 23rd. Barclays reiterated a "neutral" rating on shares of Tesla in a research note on Wednesday, May 13th. Morgan Stanley set a $415.00 price objective on shares of Tesla and gave the stock an "equal weight" rating in a research note on Thursday, January 29th. Finally, Robert W. Baird reduced their price objective 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. Nineteen analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Tesla has an average rating of "Hold" and an average price target of $395.20.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 3,000 shares of the firm's stock in a transaction that occurred on 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 trade represents a 14.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the transaction, the director owned 48,399 shares of the company's stock, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 83,213 shares of company stock worth $32,201,105. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

TSLA opened at $426.01 on Monday. The company's 50 day moving average is $387.76 and its 200-day moving average is $416.55. Tesla, Inc. has a 1-year low of $273.21 and a 1-year high of $498.83. 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 company has a market cap of $1.60 trillion, a P/E ratio of 390.83, a PEG ratio of 16.82 and a beta of 1.79.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share 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 company had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the company posted $0.27 EPS. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

About Tesla

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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