Revere Asset Management Inc Reduces Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Revere Asset Management cut its Tesla stake by 9.5% in the fourth quarter, selling 2,851 shares and leaving it with 27,224 shares worth about $12.24 million.
• Tesla reported stronger-than-expected quarterly earnings, posting $0.41 EPS versus estimates of $0.39, though revenue of $22.39 billion came in below analyst expectations.
• Both insider sales and mixed analyst sentiment were notable: executives sold shares during the quarter, while Wall Street’s consensus rating remains “Hold” with an average target price of $395.20.

Revere Asset Management Inc lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,224 shares of the electric vehicle producer's stock after selling 2,851 shares during the quarter. Tesla makes up about 4.3% of Revere Asset Management Inc's portfolio, making the stock its 7th biggest position. Revere Asset Management Inc's holdings in Tesla were worth $12,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mmbg Investment Advisors CO. boosted its position in shares of Tesla by 18.0% in the 4th quarter. Mmbg Investment Advisors CO. now owns 1,659 shares of the electric vehicle producer's stock worth $746,000 after purchasing an additional 253 shares in the last quarter. Seaview Investment Managers LLC acquired a new stake in shares of Tesla in the 4th quarter worth $507,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Tesla by 3.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,185 shares of the electric vehicle producer's stock worth $533,000 after purchasing an additional 44 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its position in shares of Tesla by 26.7% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,486 shares of the electric vehicle producer's stock worth $1,118,000 after purchasing an additional 524 shares in the last quarter. Finally, GatePass Capital LLC acquired a new stake in shares of Tesla in the 4th quarter worth $224,000. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $426.01 on Tuesday. The stock has a 50-day simple moving average of $388.38 and a two-hundred day simple moving average of $416.42. The firm has a market capitalization of $1.60 trillion, a P/E ratio of 390.83, a PEG ratio of 16.82 and a beta of 1.79. Tesla, Inc. has a fifty-two week low of $273.21 and a fifty-two week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company's revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.2 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction dated Thursday, April 30th. The stock was 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 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 document filed 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 Tesla stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 18,106 shares of the company's stock, valued at approximately $8,147,700. This represents 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 83,213 shares of company stock valued at $32,201,105 in the last quarter. Company 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: Tesla’s indirect exposure to SpaceX is getting more attention as SpaceX moves toward an IPO, and some investors are viewing that stake as an added source of upside for TSLA beyond its core auto business. Did Tesla's SpaceX Stake And China FSD Rollout Just Reframe TSLA's AI And Autonomy Story?
• Positive Sentiment: Reports that Tesla has rolled out Full Self-Driving (Supervised) in China are helping support the company’s long-term autonomy narrative and could improve investor confidence in future software-driven revenue growth. Weekend Round-Up: Tesla's FSD In China, Nvidia's Uber Partnership, Boeing's 737 Max Case Victory And More
• Positive Sentiment: Elon Musk pushed back on criticism that his politics are hurting Tesla’s brand, while also reiterating that the Model Y remains a sales leader, which may reassure some investors about demand resilience. Elon Musk Hits Back At Tesla Brand Damage Critics, Reaffirms Model Y's Sales Dominance

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. Mizuho lowered their price objective on Tesla from $540.00 to $480.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Benchmark reissued a "buy" rating on shares of Tesla in a research report on Wednesday, February 11th. HSBC initiated coverage on Tesla in a research report on Monday, April 27th. They issued a "buy" rating for the company. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research report on Thursday, April 23rd. Finally, Canaccord Genuity Group raised their price objective on Tesla from $420.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Nineteen research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $395.20.

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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