Primecap Management Co. CA Purchases Shares of 6,103,030 Tesla, Inc. $TSLA

Key Points

• Primecap Management acquired 6.1 million Tesla shares worth approximately $2.57 billion in the second quarter, making Tesla about 1.5% of its portfolio and its 12th-largest holding.
• Institutional ownership of Tesla stands at 66.2%, with several major firms—including Norges Bank, Corient Private Wealth, Legal & General, Bank of New York Mellon and Deutsche Bank—reporting significant stakes.
• Tesla reported quarterly revenue of $28.24 billion, up 25.5% year over year, but missed EPS expectations ($0.33 versus $0.50). The stock has a consensus “Hold” rating, an average analyst price target of $401.74 and trades at a very high P/E ratio of 327.85.

Primecap Management Co. CA acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,103,030 shares of the electric vehicle producer's stock, valued at approximately $2,566,934,000. Tesla makes up approximately 1.5% of Primecap Management Co. CA's portfolio, making the stock its 12th largest position. Primecap Management Co. CA owned approximately 0.15% of Tesla as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Tesla in the fourth quarter worth $17,128,100,000. Corient Private Wealth LLC grew its stake in shares of Tesla by 3,205.5% in the 4th 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 buying an additional 20,810,386 shares during the period. Legal & General Group Plc bought a new stake in Tesla in the 2nd quarter valued at about $8,535,612,000. Bank of New York Mellon Corp acquired a new position in Tesla during the 2nd quarter worth approximately $6,083,630,000. Finally, Deutsche Bank AG bought a new position in Tesla in the second quarter worth approximately $4,039,090,000. 66.20% of the stock is currently owned by institutional investors.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla began offering limited Cybercab rides in Austin, marking tangible progress toward its long-promised autonomous-vehicle strategy. The company is also soliciting interest from businesses that may purchase Cybercab fleets or provide supporting infrastructure, potentially expanding the model beyond Tesla-operated vehicles. Tesla Cybercab Hits Austin Streets
• Positive Sentiment: Tesla said the Cybercab motor uses no rare-earth metals, which could reduce supply-chain exposure. Separately, French authorities began testing Tesla’s Full Self-Driving technology, a possible step toward European regulatory progress. Cybercab Rare-Earth-Free Motor
• Neutral Sentiment: Technical analysts identified potential support around $330–$331 after the stock failed to hold resistance near $380. A successful rebound could restore momentum, but a break below roughly $347 could increase downside pressure. Tesla Forecast and Technical Levels
• Negative Sentiment: The National Highway Traffic Safety Administration opened an audit involving approximately 1,000 Cybercabs. Regulators are reviewing Tesla’s self-certification and whether a vehicle without a steering wheel, pedals or conventional mirrors complies with federal safety standards, creating potential approval and rollout delays. NHTSA Cybercab Probe
• Negative Sentiment: Analysts and financial media characterized the event as underwhelming, citing limited updates and unanswered questions about manufacturing scale, commercialization and economics. Bearish commentary—including a reiterated sell rating and an extreme downside forecast—added to the pressure, especially given Tesla’s very high earnings multiple and recent EPS miss. Tesla Stock Drops After Cybercab Update

Tesla Price Performance

TSLA opened at $354.08 on Monday. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83. The firm has a market capitalization of $1.40 trillion, a P/E ratio of 327.85, a PEG ratio of 17.88 and a beta of 1.84. The company's 50-day moving average is $358.22 and its 200 day moving average is $382.85. 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 posted its earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The firm had revenue of $28.24 billion for the quarter, compared to the consensus estimate of $26.42 billion. During the same period in the prior year, the business earned $0.33 EPS. Tesla's quarterly revenue was up 25.5% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSLA. Jefferies Financial Group set a $400.00 target price on Tesla and gave the stock a "hold" rating in a report on Monday, July 13th. Royal Bank Of Canada restated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research note on Tuesday, July 28th. Phillip Securities lowered their price objective on shares of Tesla from $220.00 to $215.00 and set a "sell" rating on the stock in a report on Wednesday, May 13th. Guggenheim initiated coverage on shares of Tesla in a research note on Monday, June 29th. They issued a "neutral" rating on the stock. Finally, Citigroup reissued a "market perform" rating on shares of Tesla in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $401.74.

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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