Tesla, Inc. $TSLA Shares Bought by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd increased its Tesla stake by 1.6% in the first quarter, owning 466,864 shares worth about $174 million. Tesla remains a meaningful holding for the fund, making up roughly 0.7% of its portfolio.
• Tesla is getting a boost from several recent positives, including the rollout of its long-awaited FSD v14 Lite update and signs of stronger international demand, especially in Europe, ahead of Q2 delivery figures.
• There are still notable headwinds, as high-profile investor Michael Burry disclosed short positions against Tesla and competition from BYD, Rivian, and Lucid continues to pressure the company’s outlook.

USS Investment Management Ltd lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 466,864 shares of the electric vehicle producer's stock after buying an additional 7,239 shares during the period. Tesla makes up approximately 0.7% of USS Investment Management Ltd's portfolio, making the stock its 21st largest position. USS Investment Management Ltd's holdings in Tesla were worth $173,979,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. PFS Partners LLC increased its stake in Tesla by 4.2% during the fourth quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer's stock worth $265,000 after acquiring an additional 24 shares during the last quarter. Boltwood Capital Management lifted its stake in shares of Tesla by 1.2% in the 4th quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer's stock valued at $953,000 after purchasing an additional 25 shares during the last quarter. Woodmont Investment Counsel LLC grew its holdings in shares of Tesla by 1.2% during the 4th quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer's stock worth $955,000 after purchasing an additional 25 shares during the period. Aspect Partners LLC increased its position in shares of Tesla by 12.5% during the 4th quarter. Aspect Partners LLC now owns 225 shares of the electric vehicle producer's stock worth $101,000 after purchasing an additional 25 shares during the last quarter. Finally, Human Investing LLC raised its holdings in Tesla by 4.5% in the 4th quarter. Human Investing LLC now owns 578 shares of the electric vehicle producer's stock valued at $260,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla began rolling out a long-awaited FSD v14 Lite update, seen as meaningful progress for its autonomy thesis and a positive proof point for the company’s software-led growth narrative. Tesla Stock Surges 15% as FSD Update Backs Its Autonomy Thesis
• Positive Sentiment: Investors are positioning ahead of Tesla’s Q2 delivery release, with analysts expecting a rebound and stronger overseas demand, especially in Europe, supporting expectations for a solid print. Tesla Q2 Deliveries Due Later This Week. Stock Gains On Newest FSD Update.
• Positive Sentiment: European registrations climbed in June, reinforcing the view that international demand is offsetting weakness in the U.S. market and could help Tesla beat delivery expectations. Tesla European registrations climb in June
• Neutral Sentiment: Retail-trader enthusiasm remains high, with Tesla’s price crossing a “meme” level that could attract more speculative buying, but this is more of a trading catalyst than a fundamental change. Tesla (TSLA) Retail Traders May Get Fired Up as Stock Crosses $420
• Negative Sentiment: Michael Burry disclosed new short positions against Tesla, adding a high-profile bearish headline that reinforces concerns about valuation and execution risk. ‘Big Short’ Investor Michael Burry Reveals Tesla, Nvidia Shorts, Says Chip Boom Is ‘Beginning of the End’
• Negative Sentiment: California’s new EV incentives appear to favor Tesla rivals like Rivian and Lucid, potentially pressuring Tesla’s U.S. demand outlook at the margin. California vs. Elon Musk: Tesla Snubbed as New EV Incentives Boost Rivian, Lucid
• Negative Sentiment: BYD’s continued recovery and expanding global sales raise competitive pressure, reviving concerns that Tesla could lose ground in the global EV race. Tesla Stock (TSLA) Falls as Archrival BYD Extends Sales Recovery

Analysts Set New Price Targets

Several research analysts have weighed in on TSLA shares. BTIG Research lowered shares of Tesla to a "neutral" rating in a research note on Friday, June 5th. Canaccord Genuity Group boosted their price target on shares of Tesla from $420.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. President Capital upped their price objective on shares of Tesla from $424.00 to $428.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Guggenheim assumed coverage on shares of Tesla in a report on Monday. They issued a "neutral" rating for the company. Finally, Zacks Research raised Tesla from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $403.07.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director directly 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. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the transaction, 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 32,015 shares of company stock worth $12,383,640. Insiders own 19.90% of the company's stock.

Tesla Trading Up 1.1%

Shares of TSLA stock opened at $425.30 on Thursday. Tesla, Inc. has a fifty-two week low of $288.77 and a fifty-two week high of $498.83. The company has a 50 day moving average price of $407.13 and a 200 day moving average price of $412.38. The stock has a market capitalization of $1.60 trillion, a P/E ratio of 390.18, a price-to-earnings-growth ratio of 16.72 and a beta of 1.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

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

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.