Renaissance Technologies LLC Sells 1,150,832 Shares of Tesla, Inc. $TSLA

Key Points

• Renaissance Technologies cut its Tesla stake by 84.5% in the first quarter, selling 1,150,832 shares and leaving it with 211,290 shares valued at about $78.5 million.
• Tesla’s latest quarterly results were mixed: revenue beat expectations at $28.24 billion, but EPS missed estimates at $0.33 versus $0.50 expected.
• Wall Street remains cautious on TSLA, with analysts trimming price targets and the stock carrying a consensus Hold rating and average target price of about $404.95.

Renaissance Technologies LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 84.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,290 shares of the electric vehicle producer's stock after selling 1,150,832 shares during the quarter. Renaissance Technologies LLC's holdings in Tesla were worth $78,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Networth Advisors LLC bought a new position in shares of Tesla during the 4th quarter valued at $26,000. Chapman Financial Group LLC purchased a new stake in Tesla during the second quarter valued at about $26,000. Davidson Capital Management Inc. grew its stake in shares of Tesla by 79.4% during the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 27 shares during the last quarter. Friedenthal Financial grew its stake in shares of Tesla by 66.7% during the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 30 shares during the last quarter. Finally, Prism Advisors Inc. purchased a new position in shares of Tesla in the fourth quarter worth about $30,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

TSLA opened at $313.03 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.18 trillion, a price-to-earnings ratio of 289.85, a price-to-earnings-growth ratio of 10.51 and a beta of 1.80. The stock has a fifty day simple moving average of $400.74 and a two-hundred day simple moving average of $402.53. Tesla, Inc. has a 12-month low of $297.82 and a 12-month high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The business had revenue of $28.24 billion for the quarter, compared to analysts' expectations of $26.42 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. Tesla's revenue for the quarter was up 25.5% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on TSLA. Piper Sandler decreased their price target on Tesla from $500.00 to $450.00 and set an "overweight" rating on the stock in a research note on Friday. President Capital increased their price objective on Tesla from $424.00 to $428.00 and gave the company a "buy" rating in a research note on Monday, April 27th. JPMorgan Chase & Co. cut their target price on shares of Tesla from $475.00 to $445.00 and set a "neutral" rating on the stock in a report on Thursday. Truist Financial set a $370.00 price target on shares of Tesla and gave the company a "hold" rating in a report on Thursday. Finally, Citigroup started coverage on shares of Tesla in a research report on Thursday, July 9th. They set a "market perform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $404.95.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business'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 value of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 3,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 18,106 shares in the company, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 32,015 shares of company stock worth $12,383,640. Insiders own 19.90% of the company's stock.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Record quarterly revenue and deliveries show Tesla is still growing its top line. Tesla Just Delivered Record Sales—So Why Did the Stock Sell Off?
• Positive Sentiment: Some investors remain bullish on the long term, with ARK/Cathie Wood buying the dip after the post-earnings slump. Cathie Wood's Ark Bought the Dip in Tesla Stock
• Neutral Sentiment: Tesla continued to promote robotaxi and Optimus progress, but the market appears to want tangible revenue and execution milestones before rewarding those ambitions. Musk's bad week: Tesla suffers worst slump since 2022, SpaceX drops ahead of Starship test flight
• Negative Sentiment: Q2 earnings missed expectations, and Tesla reported negative free cash flow as spending surged. Tesla's once-bullish tone on robotaxis shifts
• Negative Sentiment: Management’s large 2026 capex plan and AI spending push are spooking investors over margins and cash burn. Tesla sees a $200 billion wipeout as investors pan Musk's plan to spend ‘as fast as we can’
• Negative Sentiment: Analysts have been lowering price targets following the report, reflecting near-term profitability concerns. Tesla Stock Plunges as Analysts Slash Price Targets after Q2 Earnings Miss

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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