Tesla, Inc. $TSLA Shares Acquired by New Harbor Financial Group LLC

Key Points

• New Harbor Financial Group increased its Tesla stake by 118.7% in the second quarter, ending with 3,817 shares valued at approximately $1.605 million. Institutional investors and hedge funds collectively own 66.2% of Tesla.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $401.74; ratings range from Strong Buy to Sell.
• Tesla’s latest quarterly revenue rose 25.5% year over year to $28.24 billion, exceeding estimates, but adjusted earnings of $0.33 per share missed expectations of $0.50. The stock opened at $348.95 and trades at a notably high P/E ratio of 323.10.

New Harbor Financial Group LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 118.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,817 shares of the electric vehicle producer's stock after purchasing an additional 2,072 shares during the quarter. Tesla comprises approximately 0.3% of New Harbor Financial Group LLC's portfolio, making the stock its 15th largest holding. New Harbor Financial Group LLC's holdings in Tesla were worth $1,605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Norges Bank purchased a new position in Tesla during the fourth quarter worth about $17,128,100,000. Corient Private Wealth LLC grew its stake 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 valued at $9,650,811,000 after buying an additional 20,810,386 shares during the period. Bank of America Corp DE increased its holdings in shares of Tesla by 56.0% during 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 buying 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 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer's stock valued at $3,688,630,000 after buying an additional 7,367,507 shares during the period. Finally, H&H International Investment LLC acquired a new position in Tesla in the first quarter valued at approximately $1,267,259,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TSLA shares. China Renaissance cut their target price on Tesla from $382.00 to $372.00 and set a "hold" rating for the company in a research note on Monday, April 27th. BTIG Research lowered Tesla to a "neutral" rating in a research note on Friday, June 5th. BMO Capital Markets began coverage on Tesla in a research report on Monday, August 17th. They set an "outperform" rating for the company. Wells Fargo & Company restated an "underweight" rating and issued a $130.00 price objective (up from $125.00) on shares of Tesla in a report on Tuesday, July 14th. Finally, Erste Group Bank raised shares of Tesla from a "sell" rating to a "hold" rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nineteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $401.74.

Tesla Price Performance

Tesla stock opened at $348.95 on Tuesday. 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 company has a fifty day simple moving average of $364.38 and a 200-day simple moving average of $386.56. The stock has a market cap of $1.38 trillion, a P/E ratio of 323.10, a price-to-earnings-growth ratio of 18.32 and a beta of 1.83. Tesla, Inc. has a 12-month low of $297.38 and a 12-month high of $498.83.

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

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 22,039 shares of the company's stock, valued at $8,864,085.80. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 owned by corporate insiders.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada approved Tesla to deploy up to 5,000 robo-taxis, expanding the company’s permitted autonomous-vehicle fleet and supporting its strategy to build a transportation business beyond vehicle sales. Tesla's Robo-Taxi Expansion Takes a Leap Forward
• Positive Sentiment: Tesla plans to launch its wheelless, pedal-less Cybercab in Austin on September 3 and expects to roll out 2,500 robotaxis during 2026. The event could provide investors with evidence of progress toward scaling autonomous ride-hailing. Tesla to launch Cybercabs in Austin starting Sept. 3
• Positive Sentiment: Tesla retained a majority of the U.S. electric-vehicle market in the second quarter, although the overall U.S. EV market is shrinking and Tesla’s international performance remains a concern. Tesla Maintained Its Majority of the U.S. EV Market in Q2

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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