Tesla, Inc. $TSLA Shares Acquired by Wellspring Financial Advisors LLC

Wellspring Financial Advisors LLC raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,223 shares of the electric vehicle producer's stock after buying an additional 1,425 shares during the period. Tesla comprises about 0.2% of Wellspring Financial Advisors LLC's portfolio, making the stock its 19th largest holding. Wellspring Financial Advisors LLC's holdings in Tesla were worth $9,347,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TSLA. Brighton Jones LLC grew its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC raised its holdings in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Tesla by 9.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer's stock worth $3,855,000 after purchasing an additional 1,011 shares during the last quarter. Finally, AGP Franklin LLC grew its position in shares of Tesla by 21.2% in the second quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer's stock valued at $1,544,000 after purchasing an additional 851 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Key Tesla News

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%

Tesla stock opened at $351.12 on Thursday. The firm has a market capitalization 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. Tesla, Inc. has a twelve month low of $297.38 and a twelve month high of $498.83. The stock's fifty day simple moving average is $367.57 and its 200-day simple moving average is $388.09.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. 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%.Tesla's revenue for the quarter was up 25.5% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citizens Jmp assumed coverage on shares of Tesla in a research report on Thursday, July 9th. They set a "market perform" rating for the company. UBS Group set a $460.00 price target on shares of Tesla in a report on Thursday, July 23rd. BMO Capital Markets started coverage on Tesla in a research report on Monday. They issued an "outperform" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Thursday, July 23rd. Finally, Citigroup initiated coverage on Tesla in a research report on Thursday, July 9th. They set a "market perform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nineteen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $401.74.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the 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 sale, the chief financial officer directly owned 22,039 shares in the company, valued at $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Insiders own 19.90% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source