Tesla, Inc. $TSLA Shares Sold by Fortitude Advisory Group L.L.C.

Key Points

• Fortitude Advisory Group reduced its Tesla stake by 35.1% in the second quarter, selling 2,109 shares and retaining 3,892 shares valued at approximately $1.64 million. Institutional investors collectively own 66.2% of Tesla.
• Tesla CFO Vaibhav Taneja sold 2,606 shares worth about $1.05 million to cover tax obligations tied to vested equity awards. Insiders still own approximately 19.9% of the company.
• Analysts have a consensus “Hold” rating and a $401.74 price target, while Tesla’s latest quarterly results beat revenue estimates but missed on earnings per share. Investors continue to weigh potential growth from robotaxis, the Semi and artificial intelligence against Tesla’s high valuation and regulatory and safety risks.

Fortitude Advisory Group L.L.C. trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,892 shares of the electric vehicle producer's stock after selling 2,109 shares during the period. Tesla accounts for 0.6% of Fortitude Advisory Group L.L.C.'s holdings, making the stock its 28th biggest position. Fortitude Advisory Group L.L.C.'s holdings in Tesla were worth $1,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Crestwood Advisors Group LLC raised its stake in Tesla by 34.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer's stock valued at $8,799,000 after purchasing an additional 5,039 shares during the last quarter. Private Capital Advisors Inc. boosted its stake in Tesla by 139.3% during the 4th quarter. Private Capital Advisors Inc. now owns 21,331 shares of the electric vehicle producer's stock worth $9,593,000 after purchasing an additional 12,417 shares during the last quarter. Wealthquest Corp purchased a new stake in shares of Tesla during the fourth quarter worth $1,035,000. Knights of Columbus Asset Advisors LLC raised its position in shares of Tesla by 34.8% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 64,481 shares of the electric vehicle producer's stock valued at $28,998,000 after buying an additional 16,652 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co raised its position in shares of Tesla by 3.0% in the fourth quarter. Varma Mutual Pension Insurance Co now owns 404,023 shares of the electric vehicle producer's stock valued at $181,697,000 after buying an additional 11,900 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the transaction, the chief financial officer directly owned 22,039 shares in the company, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TSLA. Zacks Research upgraded shares of Tesla from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft set a $420.00 target price on shares of Tesla in a research note on Monday, July 27th. President Capital boosted their target price on Tesla from $424.00 to $428.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Oppenheimer restated a "market perform" rating on shares of Tesla in a research report on Thursday, July 23rd. Finally, Truist Financial set a $370.00 price objective on Tesla and gave the stock a "hold" rating in a research report on Thursday, July 23rd. One 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 issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $401.74.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada regulators approved Tesla’s application to operate up to 5,000 fully autonomous vehicles during the first year, clearing a path for a Las Vegas robotaxi launch. The approval strengthens the investment case for Tesla’s autonomy strategy and could provide an important commercial test for its Cybercab platform. Nevada approves Tesla fleet of 5,000 fully autonomous vehicles
• Positive Sentiment: Tesla is preparing to showcase and expand its Semi truck in Europe, including at September’s IAA Transportation event. A reported order for 500 Semis from Einride and plans to scale Nevada production support expectations that commercial vehicles could become a meaningful new growth engine. Tesla Semi truck expansion into Europe
• Positive Sentiment: Recent Tesla commentary has emphasized confidence in scaling Cybercab operations and a potential step-change from its FSD V15 software. Investors view robotaxis, autonomy and the Semi as necessary growth businesses to support Tesla’s premium valuation as automotive growth matures. JPMorgan on Tesla Cybercab and FSD V15
• Neutral Sentiment: Analysts and investors continue debating whether Tesla’s roughly 292-times earnings valuation adequately reflects future robotaxi, Semi and artificial-intelligence growth. Supporters see substantial long-term upside, while skeptics argue the valuation leaves little room for execution delays or disappointing adoption. Tesla Robotaxi and Semi valuation analysis
• Negative Sentiment: Tesla will voluntarily recall nearly 3 million vehicles in China to address emergency door-release and driver-monitoring concerns. Although the fix is expected to be software-based and other automakers are involved, the recall adds regulatory, safety and reputational risk in a key market. Tesla China recall
• Negative Sentiment: Reports that Tesla has ended Solar Roof tile operations highlight the company’s retreat from a business that failed to achieve expected scale. Separately, questions about Autopilot crash-data disclosures and a robotaxi incident in Austin could make investors more cautious about Tesla’s readiness for unsupervised autonomy. Tesla Solar Roof shutdown

Tesla Price Performance

TSLA stock opened at $362.86 on Monday. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83. The firm has a market cap of $1.43 trillion, a PE ratio of 335.98, a PEG ratio of 18.32 and a beta of 1.83. The firm's 50 day moving average price is $365.62 and its 200-day moving average price is $387.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The business had revenue of $28.24 billion for the quarter, compared to analyst estimates of $26.42 billion. During the same period last year, the business earned $0.33 EPS. Tesla's revenue was up 25.5% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla, Inc. will post 0.88 EPS for the current 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.

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