Sara Bay Financial Takes Position in Tesla, Inc. $TSLA

Sara Bay Financial bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,129 shares of the electric vehicle producer's stock, valued at approximately $1,737,000. Tesla comprises about 0.5% of Sara Bay Financial's portfolio, making the stock its 23rd largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. SilverOak Wealth Management LLC increased its stake in Tesla by 2.3% in the fourth quarter. SilverOak Wealth Management LLC now owns 1,117 shares of the electric vehicle producer's stock valued at $502,000 after purchasing an additional 25 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Tesla by 0.7% during the fourth quarter. Boston Trust Walden Corp now owns 3,385 shares of the electric vehicle producer's stock worth $1,522,000 after buying an additional 25 shares during the last quarter. Cape ANN Savings Bank grew its holdings in shares of Tesla by 2.6% during the fourth quarter. Cape ANN Savings Bank now owns 974 shares of the electric vehicle producer's stock worth $438,000 after buying an additional 25 shares during the last quarter. Marks Group Wealth Management Inc increased its position in Tesla by 1.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,512 shares of the electric vehicle producer's stock valued at $680,000 after acquiring an additional 25 shares during the period. Finally, Clear Trail Advisors LLC raised its stake in Tesla by 1.6% during the 1st quarter. Clear Trail Advisors LLC now owns 1,628 shares of the electric vehicle producer's stock valued at $605,000 after acquiring an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the transaction, the chief financial officer directly owned 22,039 shares of the company's stock, valued at $8,864,085.80. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. JPMorgan Chase & Co. lowered their target price on Tesla from $475.00 to $445.00 and set a "neutral" rating on the stock in a research note on Thursday, July 23rd. Piper Sandler cut their price target on Tesla from $500.00 to $450.00 and set an "overweight" rating for the company in a research note on Friday, July 24th. Wells Fargo & Company reiterated an "underweight" rating and issued a $130.00 price objective (up from $125.00) on shares of Tesla in a research report on Tuesday, July 14th. Weiss Ratings reissued a "hold (c-)" rating on shares of Tesla in a research note on Tuesday, July 21st. Finally, William Blair restated a "market perform" rating on shares of Tesla in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nineteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $401.74.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Cybercab launch expectations boosted sentiment. Tesla’s teaser for a possible Cybercab event and reports of employee rides followed by a limited public rollout in Austin renewed investor interest in the company’s autonomous-driving strategy. Tesla Stock Jumps as Cybercab Launch Puts Robotaxi Plans in Focus
• Positive Sentiment: A 500-truck Tesla Semi deployment offers commercial validation. Einride plans to deploy 500 Tesla Semis across North America over two years, potentially providing a meaningful order and demonstrating whether Tesla can scale production of its long-delayed heavy-duty truck. Einride to deploy 500 Tesla electric trucks for North American fleet
• Positive Sentiment: The Model Y L could broaden Tesla’s customer base. The six-seat model is designed to address demand from larger, family-focused EV buyers and fill a gap in Tesla’s lineup, although its effect on sales growth is unproven. Tesla’s Model Y L Is Coming to America
• Positive Sentiment: Enterprise robotics interest is expanding. Virtuix said it sold an Omni One Enterprise system to Tesla’s Optimus division for humanoid-robot teleoperation, providing another indication of Tesla’s investment in robotics applications. Virtuix Reports Growth and Tesla Robotics Win

Tesla Stock Up 4.2%

TSLA stock opened at $351.12 on Thursday. The company has a market cap of $1.39 trillion, a P/E ratio of 325.11, a P/E/G ratio of 17.01 and a beta of 1.83. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83. The company's 50-day moving average price is $367.57 and its 200 day moving average price is $388.09. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company had revenue of $28.24 billion during the quarter, compared to analysts' expectations of $26.42 billion. During the same period last year, the business posted $0.33 earnings per share. The company's quarterly revenue was up 25.5% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 0.88 earnings per share for the current fiscal year.

About Tesla

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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