Tesla, Inc. $TSLA Position Decreased by Sowell Financial Services LLC

Sowell Financial Services LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,746 shares of the electric vehicle producer's stock after selling 3,160 shares during the quarter. Sowell Financial Services LLC's holdings in Tesla were worth $13,773,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter valued at $17,128,100,000. Corient Private Wealth LLC grew its holdings 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 worth $9,650,811,000 after acquiring an additional 20,810,386 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Tesla by 56.0% in the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer's stock worth $9,334,211,000 after acquiring an additional 7,450,766 shares during the last quarter. Cardano Risk Management B.V. raised its position in shares of Tesla by 882.8% during the fourth quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer's stock worth $3,688,630,000 after purchasing an additional 7,367,507 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 4.2%

Shares of Tesla stock opened at $351.12 on Thursday. Tesla, Inc. has a 1 year low of $297.38 and a 1 year high of $498.83. 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. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $367.57 and a 200 day moving average price of $388.09.

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 for the quarter, missing the consensus estimate of $0.50 by ($0.17). The business had revenue of $28.24 billion for the quarter, compared to analysts' expectations of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company's revenue was up 25.5% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. As a group, analysts expect that Tesla, Inc. will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $402.20, for a total value of $1,048,133.20. Following the transaction, the chief financial officer owned 22,039 shares in the company, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 19.90% of the company's stock.

Trending Headlines about 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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TSLA shares. Tigress Financial initiated coverage on Tesla in a research report on Monday, April 27th. They issued a "buy" rating for the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tesla in a research note on Tuesday, July 21st. The Goldman Sachs Group initiated coverage on shares of Tesla in a report on Friday, June 5th. They issued a "buy" rating for the company. UBS Group set a $460.00 target price on shares of Tesla in a research report on Thursday, July 23rd. Finally, President Capital upped their price target on shares of Tesla from $424.00 to $428.00 and gave the company a "buy" rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, nineteen have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target 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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