Tesla, Inc. $TSLA Shares Acquired by State Street Corp

Key Points

• State Street increased its Tesla stake by 2.4% in the second quarter, acquiring 2.76 million additional shares. It now owns 117.46 million shares valued at approximately $49.4 billion, representing a 2.97% stake.
• Institutional investors own about 66.2% of Tesla, with other major holders—including Geode Capital, Amundi, and Corient Private Wealth—also increasing their positions or establishing new stakes.
• Analysts have a mixed outlook, with Tesla carrying an overall “Hold” rating and an average price target of $412.25. The company exceeded revenue expectations with $28.24 billion in quarterly sales but missed consensus earnings estimates, reporting $0.33 per share versus $0.50 expected.

State Street Corp increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,456,756 shares of the electric vehicle producer's stock after acquiring an additional 2,761,298 shares during the quarter. Tesla makes up approximately 1.0% of State Street Corp's holdings, making the stock its 15th biggest holding. State Street Corp owned 2.97% of Tesla worth $49,402,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of TSLA. Geode Capital Management LLC boosted its position in Tesla by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer's stock valued at $29,426,070,000 after purchasing an additional 375,946 shares during the period. Norges Bank bought a new stake in Tesla in the fourth quarter valued at $17,128,100,000. Amundi boosted its holdings in shares of Tesla by 14.0% during the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer's stock valued at $8,243,513,000 after acquiring an additional 2,727,141 shares during the period. Corient Private Wealth LLC grew its position in shares of Tesla by 3,205.5% during the fourth 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. Finally, Legal & General Group Plc acquired a new stake in shares of Tesla in the 2nd quarter worth about $8,535,612,000. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. HSBC reissued a "hold" rating on shares of Tesla in a research note on Monday, June 15th. Evercore raised Tesla from a "hold" rating to an "outperform" rating in a report on Friday, June 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price objective (down from $510.00) on shares of Tesla in a report on Thursday, July 23rd. DZ Bank upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein upgraded Tesla from an "underperform" rating to an "outperform" rating in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $412.25.

Tesla Price Performance

NASDAQ TSLA traded up $2.86 on Tuesday, reaching $378.16. 15,720,855 shares of the stock traded hands, compared to its average volume of 52,328,625. Tesla, Inc. has a 12 month low of $297.38 and a 12 month 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 fifty day simple moving average is $348.79 and its 200 day simple moving average is $379.47. The company has a market cap of $1.49 trillion, a price-to-earnings ratio of 350.52, a P/E/G ratio of 18.39 and a beta of 1.84.

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

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla received its first-ever BBB investment-grade credit rating from Fitch, potentially lowering financing costs and supporting the company’s planned capital spending. Investors are also watching several October events, including the Roadster reveal, third-quarter deliveries and earnings. Tesla Gains Momentum Following First-Ever Fitch BBB Rating
• Positive Sentiment: Tesla reopened Roadster reservations ahead of the expected October 1 unveiling, requiring a $5,000 deposit and an additional $45,000 payment. The halo vehicle is boosting enthusiasm, although its direct financial contribution is likely to be limited. Tesla Reopens Roadster Reservations
• Positive Sentiment: The Czech Republic provisionally approved Tesla’s Full Self-Driving system after earlier safety concerns, adding to a series of European approvals and strengthening the case for broader autonomy deployment. Czech Republic Approves Tesla’s FSD
• Positive Sentiment: Tesla and Sunrun reported that home battery fleets supplied more than 580 megawatts to California’s grid during a heat wave, highlighting the scale and potential value of Tesla’s energy-storage business. Sunrun and Tesla Dispatch 580 Megawatts
• Neutral Sentiment: Tesla registered a local entity in Vietnam, preparing for a possible expansion into Southeast Asia’s largest EV market. The opportunity is substantial, but VinFast currently controls most of Vietnam’s EV market and has a strong local charging and service network. Tesla Makes a Move in Vietnam
• Negative Sentiment: Cybertruck sales are reportedly running about 94% below Elon Musk’s original estimate, underscoring continued execution and demand concerns despite Tesla’s broader EV market-share strength. Cybertruck Sales Are Below Estimates
• Negative Sentiment: Goldman Sachs lowered its third- and fourth-quarter Tesla delivery estimates. Meanwhile, reports that viral Optimus demonstrations were effectively remote-controlled and that China is slowing humanoid-robot IPOs raise questions about the timing and economics of Tesla’s robotics strategy. Tesla’s Delivery Warning
• Negative Sentiment: Tesla is headed to trial in a long-running California racial-discrimination case, creating potential legal costs and reputational risk. Negative free cash flow and Tesla’s very high valuation also make the stock sensitive to disappointing operating results. Tesla Racial Discrimination Trial

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total value of $938,498.78. Following the transaction, the chief financial officer owned 25,972 shares of the company's stock, valued at $9,353,296.36. The trade was a 9.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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.

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.

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