Platform Technology Partners Grows Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Platform Technology Partners increased its Tesla stake by 19.8% in the first quarter, buying 3,140 additional shares and bringing its total holding to 19,025 shares worth about $7.1 million.
• Tesla remains widely owned by institutions, with 66.2% of shares held by institutional investors and hedge funds, though some recent insider activity included sales by Director Kathleen Wilson-Thompson and CFO Vaibhav Taneja.
• The stock has been mixed on performance and sentiment: Tesla recently reported better-than-expected EPS, but analysts are still split with a consensus rating of “Hold” and a price target of $403.92.

Platform Technology Partners raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,025 shares of the electric vehicle producer's stock after acquiring an additional 3,140 shares during the period. Tesla makes up 1.4% of Platform Technology Partners' investment portfolio, making the stock its 17th biggest holding. Platform Technology Partners' holdings in Tesla were worth $7,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. PFS Partners LLC raised its stake in shares of Tesla by 4.2% during the fourth quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer's stock worth $265,000 after purchasing an additional 24 shares during the last quarter. Boltwood Capital Management boosted its holdings in Tesla by 1.2% in the 4th quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer's stock valued at $953,000 after purchasing an additional 25 shares in the last quarter. Woodmont Investment Counsel LLC increased its position in Tesla by 1.2% during the 4th quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer's stock worth $955,000 after purchasing an additional 25 shares during the period. Aspect Partners LLC increased its position in Tesla by 12.5% during the 4th quarter. Aspect Partners LLC now owns 225 shares of the electric vehicle producer's stock worth $101,000 after purchasing an additional 25 shares during the period. Finally, Human Investing LLC raised its stake in shares of Tesla by 4.5% during the 4th quarter. Human Investing LLC now owns 578 shares of the electric vehicle producer's stock worth $260,000 after buying an additional 25 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ TSLA opened at $393.45 on Friday. The business has a 50 day moving average price of $407.27 and a 200 day moving average price of $411.92. The company has a market capitalization of $1.48 trillion, a P/E ratio of 360.96, a PEG ratio of 16.88 and a beta of 1.80. Tesla, Inc. has a 1-year low of $288.77 and a 1-year high of $498.83. 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 posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The company had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla's quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 1.2 EPS for the current fiscal year.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Q2 deliveries beat expectations by a wide margin, reinforcing that the company’s automotive business is regaining momentum. Reuters: Tesla posts stronger-than-expected Q2 deliveries as Europe sales improve
• Positive Sentiment: U.S. regulators closed a probe into Tesla’s braking issue, removing one overhang tied to safety concerns. Reuters: U.S. closes 2022 probe into 695,000 Tesla vehicles over unexpected braking
• Positive Sentiment: Tesla launched a six-seater long-wheelbase Model Y in the U.S. to support sales after the loss of a key tax credit, which could help broaden demand. Reuters: Tesla launches six-seater Model Y L in US to boost sales
• Neutral Sentiment: Analysts remain split: some raised earnings estimates and price targets, but several maintained Hold/neutral views, citing valuation risk.
• Negative Sentiment: Multiple reports say the stock is selling off because investors are focused on margin and profitability concerns rather than the delivery beat, implying the market had already priced in strong numbers.
• Negative Sentiment: Safety headlines remain a drag, including a fatal Tesla Semi crash in Nevada and a Texas manslaughter charge tied to a Tesla using driver-assistance features, which could renew scrutiny of Tesla’s technology and brand.
• Negative Sentiment: Michael Burry disclosed a bearish bet against Tesla, adding another headline that may be pressuring sentiment.

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 dated 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 directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Tesla stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares of the company's stock, valued at approximately $8,147,700. The trade was a 14.21% decrease in their position. 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 have sold a total of 32,015 shares of company stock valued at $12,383,640 in the last ninety days. Corporate insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TSLA shares. HSBC restated a "hold" rating on shares of Tesla in a research note on Monday, June 15th. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a research report on Thursday, June 11th. Phillip Securities decreased their target price on shares of Tesla from $220.00 to $215.00 and set a "sell" rating on the stock in a research report on Wednesday, May 13th. William Blair reaffirmed a "market perform" rating on shares of Tesla in a research note on Thursday. Finally, Roth Mkm reiterated a "buy" rating on shares of Tesla in a report on Thursday, April 23rd. Twenty-one research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $403.92.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.