Tesla, Inc. $TSLA Shares Bought by Capital Asset Advisory Services LLC

Key Points

• Capital Asset Advisory Services LLC increased its Tesla stake by 23.1% in the first quarter, adding 3,737 shares to bring its total to 19,949 shares valued at about $7.83 million.
• Tesla shares were down 7.5% in Friday trading, opening at $393.45, even though the stock remains valued at a $1.48 trillion market cap and trades well above its 52-week low.
• In its latest quarterly results, Tesla beat EPS expectations with $0.41 per share, but revenue came in slightly below estimates, and analysts currently rate the stock a consensus Hold with an average target price of $403.92.

Capital Asset Advisory Services LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,949 shares of the electric vehicle producer's stock after acquiring an additional 3,737 shares during the period. Capital Asset Advisory Services LLC's holdings in Tesla were worth $7,830,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Tesla by 2.6% in the 4th 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 in the last quarter. State Street Corp grew its stake in shares of Tesla by 0.9% during the fourth quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer's stock worth $51,647,164,000 after purchasing an additional 1,080,085 shares in the last quarter. Geode Capital Management LLC increased its holdings in Tesla by 0.6% in the fourth 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 buying an additional 375,946 shares during the last quarter. Capital World Investors increased its holdings in Tesla by 5.8% in the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer's stock valued at $19,583,547,000 after buying an additional 2,403,019 shares during the last quarter. Finally, Norges Bank acquired a new stake in Tesla in the fourth quarter valued at $17,128,100,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 7.5%

Shares of TSLA stock opened at $393.45 on Friday. The company has a market capitalization of $1.48 trillion, a P/E ratio of 360.96, a price-to-earnings-growth ratio of 16.88 and a beta of 1.80. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The business's 50 day moving average is $407.27 and its two-hundred day moving average is $411.92. Tesla, Inc. has a twelve month low of $288.77 and a twelve month high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the company earned $0.27 earnings per share. The company's revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts forecast that Tesla, Inc. will post 1.2 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares of the company's stock, valued at approximately $8,147,700. This represents a 14.21% 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. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,015 shares of company stock valued at $12,383,640 over the last three months. 19.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TSLA. Barclays reiterated a "neutral" rating on shares of Tesla in a report on Wednesday, May 13th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Tesla in a research note on Wednesday, June 24th. The Goldman Sachs Group started coverage on shares of Tesla in a report on Friday, June 5th. They set a "buy" rating on the stock. Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a research report on Monday, April 27th. Finally, Evercore raised shares of Tesla from a "hold" rating to an "outperform" rating in a research report on Friday, June 5th. Twenty-one analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and an average target price of $403.92.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Q2 deliveries beat expectations by a wide margin, reinforcing that the company’s automotive business is regaining momentum. Reuters: Tesla posts stronger-than-expected Q2 deliveries as Europe sales improve
• Positive Sentiment: U.S. regulators closed a probe into Tesla’s braking issue, removing one overhang tied to safety concerns. Reuters: U.S. closes 2022 probe into 695,000 Tesla vehicles over unexpected braking
• Positive Sentiment: Tesla launched a six-seater long-wheelbase Model Y in the U.S. to support sales after the loss of a key tax credit, which could help broaden demand. Reuters: Tesla launches six-seater Model Y L in US to boost sales
• Neutral Sentiment: Analysts remain split: some raised earnings estimates and price targets, but several maintained Hold/neutral views, citing valuation risk.
• Negative Sentiment: Multiple reports say the stock is selling off because investors are focused on margin and profitability concerns rather than the delivery beat, implying the market had already priced in strong numbers.
• Negative Sentiment: Safety headlines remain a drag, including a fatal Tesla Semi crash in Nevada and a Texas manslaughter charge tied to a Tesla using driver-assistance features, which could renew scrutiny of Tesla’s technology and brand.
• Negative Sentiment: Michael Burry disclosed a bearish bet against Tesla, adding another headline that may be pressuring sentiment.

Tesla Company 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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