SkyView Investment Advisors LLC Sells 2,689 Shares of Tesla, Inc. $TSLA

Key Points

• SkyView Investment Advisors reduced its Tesla stake by 30.9% in the second quarter, selling 2,689 shares and retaining 6,000 shares valued at approximately $2.52 million. Tesla represented about 2.1% of the firm’s portfolio.
• Despite SkyView’s sale, several other institutional investors increased their Tesla holdings, and institutional investors collectively owned 66.2% of the company. Tesla’s CFO also sold shares to cover tax obligations related to vested equity awards.
• Analyst sentiment remains mixed, with Tesla receiving a consensus “Hold” rating and an average price target of $412.25. The stock trades at a very high valuation, while its latest quarterly EPS missed estimates despite revenue growth of 25.5% year over year.

SkyView Investment Advisors LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the electric vehicle producer's stock after selling 2,689 shares during the period. Tesla comprises approximately 2.1% of SkyView Investment Advisors LLC's portfolio, making the stock its 10th largest position. SkyView Investment Advisors LLC's holdings in Tesla were worth $2,524,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TSLA. Bamco Inc. NY grew its position in shares of Tesla by 5.0% during the second quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer's stock worth $5,267,911,000 after acquiring an additional 591,243 shares during the last quarter. Wealthquest Corp purchased a new stake in Tesla in the 4th quarter valued at $1,035,000. Private Capital Advisors Inc. raised its position in Tesla by 139.3% in the 4th quarter. Private Capital Advisors Inc. now owns 21,331 shares of the electric vehicle producer's stock valued at $9,593,000 after purchasing an additional 12,417 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in Tesla by 34.8% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 64,481 shares of the electric vehicle producer's stock worth $28,998,000 after purchasing an additional 16,652 shares during the period. Finally, Triglav Investments D.O.O. boosted its stake in Tesla by 7.1% during the 4th quarter. Triglav Investments D.O.O. now owns 82,938 shares of the electric vehicle producer's stock worth $37,299,000 after purchasing an additional 5,518 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla will operate public Megacharger sites at three Forum Mobility electric-truck depots in California, adding 30 megawatts of charging capacity. More than 330 Tesla Semis are reportedly committed at one site, providing potential support for Tesla’s commercial-vehicle and charging businesses. Tesla taps Forum Mobility for California electric-truck charging stations
• Positive Sentiment: Investors continue to focus on the potential expansion of Tesla’s robotaxi network, artificial-intelligence platform, and humanoid-robot efforts. Reports pointing to record deliveries and robotaxi availability in seven cities helped reinforce the long-term growth narrative, despite Tesla’s current execution challenges. Tesla Stock Has a Potential Catalyst Wall Street Can’t Ignore
• Positive Sentiment: The upcoming October 1 Roadster reveal is another near-term catalyst, with Elon Musk promising a highly differentiated vehicle. Tesla has also established a small formal foothold in Vietnam, potentially opening access to a growing EV market. Elon Musk Says Excitement Is Guaranteed at Tesla Roadster Reveal
• Neutral Sentiment: Tesla generated negative $1.1 billion in free cash flow last quarter as Musk increased spending on robotaxis and Optimus. The $43.5 billion cash balance provides a substantial cushion, but investors will want evidence that these investments can eventually produce returns. Tesla Posted Negative $1.1 Billion in Free Cash Flow Last Quarter
• Negative Sentiment: Goldman Sachs cut its third-quarter delivery forecast to 435,000 vehicles, citing weaker demand across China, the United States, and Europe. Tesla is also cutting prices in China, highlighting competitive pressure and possible margin risk.
• Negative Sentiment: NHTSA is demanding sworn answers to 21 questions by September 30 about the Cybercab’s safety certification, including its lack of steering wheel and pedals. Regulators could require controls to be added, creating delay and cost risks while rivals such as Waymo expand their robotaxi operations. How Serious Is the Regulatory Threat Now Facing Tesla’s Cybercab?
• Negative Sentiment: BYD’s record sales, Tesla’s slower robotaxi progress, and its elevated valuation leave little room for disappointment. Analysts warn that a busy product calendar may not satisfy investors unless it translates into stronger deliveries, profitability, and dependable autonomy revenue.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the transaction, the chief financial officer directly owned 25,972 shares of the company's stock, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TSLA. Evercore raised shares of Tesla from a "hold" rating to an "outperform" rating in a report on Friday, June 5th. BMO Capital Markets assumed coverage on Tesla in a report on Monday, August 17th. They set an "outperform" rating on the stock. TD Cowen restated a "buy" rating on shares of Tesla in a research report on Friday, August 14th. Guggenheim initiated coverage on Tesla in a research note on Monday, June 29th. They set a "neutral" rating for the company. Finally, BNP Paribas Exane cut Tesla from a "hold" rating to an "underperform" rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $412.25.

Tesla Stock Up 2.3%

Shares of NASDAQ:TSLA opened at $366.20 on Friday. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83. The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09. The firm's 50-day simple moving average is $350.04 and its 200-day simple moving average is $379.87. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 339.08, a PEG ratio of 18.08 and a beta of 1.84.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.17). The firm had revenue of $28.24 billion for the quarter, compared to analysts' expectations of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%.The company's revenue for the quarter was up 25.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 0.88 earnings per share for the current year.

Tesla Profile

Tesla, Inc is an American technology and automotive company that designs, develops, manufactures and sells electric vehicles and related energy products. Its vehicle lineup has included the Model S, Model 3, Model X, Model Y and Cybertruck, along with commercial and specialty products such as the Tesla Semi.

The company also develops energy-generation and storage products, including solar panels, solar roofing systems and battery storage solutions for residential, commercial and utility customers.

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.