Parallel Advisors LLC Purchases 1,899 Shares of Tesla, Inc. $TSLA

Key Points

• Parallel Advisors LLC increased its Tesla stake by 2.3% in the fourth quarter, buying 1,899 additional shares and bringing its total holdings to 82,912 shares worth about $37.3 million.
• Institutional ownership remains very high, with major investors like Norges Bank and Vanguard also adding or holding large positions; institutions now own 66.20% of Tesla shares.
• Tesla’s latest results showed solid earnings growth, with Q1 EPS of $0.41 topping estimates and revenue rising 15.8% year over year, though revenue still came in slightly below expectations.

Parallel Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,912 shares of the electric vehicle producer's stock after buying an additional 1,899 shares during the period. Tesla accounts for about 0.7% of Parallel Advisors LLC's portfolio, making the stock its 22nd largest position. Parallel Advisors LLC's holdings in Tesla were worth $37,287,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Tesla in the 4th quarter valued at approximately $17,128,100,000. Vanguard Group Inc. raised its position in shares of Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares during the last quarter. Holocene Advisors LP raised its position in shares of Tesla by 132.2% in the 3rd quarter. Holocene Advisors LP now owns 6,157,000 shares of the electric vehicle producer's stock valued at $2,738,141,000 after purchasing an additional 3,505,000 shares during the last quarter. Capital World Investors raised its position in shares of Tesla by 5.8% in the 3rd quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer's stock valued at $19,583,547,000 after purchasing an additional 2,403,019 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Tesla in the 4th quarter valued at approximately $748,084,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA opened at $418.45 on Friday. Tesla, Inc. has a 12-month low of $273.21 and a 12-month 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 firm has a market capitalization of $1.57 trillion, a PE ratio of 383.90, a P/E/G ratio of 16.73 and a beta of 1.80. The firm has a 50 day moving average of $395.23 and a two-hundred day moving average of $416.24.

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 (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the firm posted $0.27 EPS. Tesla's revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 1.2 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. Royal Bank Of Canada reaffirmed a "buy" rating on shares of Tesla in a research report on Monday, April 27th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tesla in a research report on Friday, April 24th. UBS Group increased their price objective on shares of Tesla from $352.00 to $364.00 and gave the company a "neutral" rating in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Tesla in a research report on Monday, April 27th. Finally, Canaccord Genuity Group raised their price target on shares of Tesla from $420.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $395.20.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla expanded its unsupervised Robotaxi service area in Austin, a sign that its autonomous ride-hailing push is still advancing and could support the long-term AI/robotics story. Reuters: Tesla rolls out unsupervised robotaxis in Austin
• Positive Sentiment: Tesla reported a strong rebound in China-made EV sales in May, with Shanghai deliveries jumping sharply as the domestic market showed signs of recovery, which may help near-term demand sentiment. CNBC: Tesla's China-made EV sales jump nearly 40% in May
• Positive Sentiment: Global EV sales rose in April and were led by Tesla, reinforcing that the broader EV market is still growing. TipRanks: Global Electric Vehicle Sales Rose 16% in April
• Neutral Sentiment: News around SpaceX’s massive IPO and speculation about a possible future Tesla-SpaceX linkage is stirring investor attention, but it is mostly indirect and highly speculative for TSLA in the near term. CNBC: SpaceX targets $135 IPO price
• Negative Sentiment: Several reports highlighted that Tesla’s stock is being dragged by weakness in tech stocks overall, especially after Broadcom’s disappointing results weighed on the sector. Yahoo Finance: Sector Update: Tech Stocks Fall Thursday Afternoon
• Negative Sentiment: Analysts and commentators continue to question Tesla’s rich valuation, arguing that the stock price still reflects ambitious AI, robotaxi, and robotics expectations that have not yet been fully proven in financial results. 247WallSt: Buy, Hold, or Sell: Is Tesla Stock a Sell Above $400?
• Negative Sentiment: Competitive and legal concerns are also lingering, including scrutiny over Tesla’s FSD claims in China and new competition in robotics and EVs, which can pressure sentiment. Yahoo Finance: Tesla Faces China FSD Lawsuit

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares of the company's stock, valued at $8,147,700. The trade was a 14.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 Tesla 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 transaction, the director directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 55,218 shares of company stock valued at $20,609,455. Insiders own 19.90% of the company's stock.

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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