Tesla, Inc. $TSLA Shares Sold by Pier 88 Investment Partners LLC

Key Points

• Pier 88 Investment Partners LLC slashed its Tesla stake by 96.7% in the fourth quarter, selling 8,700 shares and leaving it with just 300 shares worth about $135,000.
• Institutional ownership remains high despite the sale, with major holders like Vanguard increasing positions and institutions overall owning 66.20% of Tesla’s stock.
• Tesla reported better-than-expected EPS of $0.41 on revenue of $22.39 billion, while analysts remain mixed with a consensus rating of Hold and an average price target of $398.42.

Pier 88 Investment Partners LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 96.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 300 shares of the electric vehicle producer's stock after selling 8,700 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Tesla were worth $135,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TSLA. Vanguard Group Inc. boosted its position in Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock worth $116,443,762,000 after acquiring an additional 6,538,720 shares during the last quarter. Holocene Advisors LP raised its stake in Tesla by 132.2% during the third quarter. Holocene Advisors LP now owns 6,157,000 shares of the electric vehicle producer's stock worth $2,738,141,000 after purchasing an additional 3,505,000 shares during the period. Jennison Associates LLC raised its stake in Tesla by 38.3% during the third quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer's stock worth $4,851,747,000 after purchasing an additional 3,021,550 shares during the period. Capital World Investors raised its stake in Tesla by 5.8% during the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer's stock worth $19,583,547,000 after purchasing an additional 2,403,019 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in Tesla during the fourth quarter worth about $748,084,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,264 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $397.03, for a total value of $898,875.92. Following the completion of the transaction, the chief financial officer owned 18,106 shares in the company, valued at $7,188,625.18. This trade represents a 11.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 80,213 shares of company stock valued at $30,851,105 in the last quarter. Insiders own 19.90% of the company's stock.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s China-made Model 3 and Model Y sales have rebounded for a sixth straight month, and imports into Europe are rising, reinforcing signs that overseas demand is improving. Tesla Stock Is on a Winning Streak with China-Made EVs. Its Imports to Europe Are Increasing.
• Positive Sentiment: Piper Sandler reiterated an Overweight rating and a $500 price target, saying investors may be “buying Optimus for free,” which supports the bull case around Tesla’s AI and robotics value. Tesla: Buying at these levels means you get Optimus for 'free', Piper Sandler says
• Positive Sentiment: Investors are also bidding up the stock on expectations for more AI and autonomous-driving news, including robotaxi expansion and possible China Full Self-Driving progress. Tesla Stock Is Starting a Run Higher. Thank China AI.
• Positive Sentiment: Tesla’s AI Vision safety claims and broader robotaxi commentary are helping keep sentiment focused on the company’s longer-term autonomy story rather than just EV sales. Elon Musk Says Tesla AI Vision Deploys Airbags 'Before Impact' To Cut Injury, Death Risk, Upgrade 'Comes For Free On All New Cars'
• Neutral Sentiment: Reports that Tesla has built its final Model S and Model X vehicles mark an end of an era, but the impact on the stock is unclear since those models are a smaller part of the growth story now. End of an era: Tesla has built its final Model S and Model X vehicles
• Negative Sentiment: Tesla also faces overhangs from a Cybertruck recall and renewed competitive pressure in the EV market, which could temper enthusiasm if execution issues persist. Tesla recalls every Cybertruck RWD ever sold — all 173 of them — because the wheels could fall off
• Negative Sentiment: One article argues investors should favor Alphabet’s driverless-car exposure instead of Tesla, highlighting that some market participants still see more attractive valuations elsewhere in autonomous driving. Forget Tesla, Investors Should Buy Alphabet Stock Instead

Tesla Trading Up 3.9%

Shares of Tesla stock opened at $444.92 on Tuesday. The company has a fifty day simple moving average of $383.61 and a 200-day simple moving average of $418.25. Tesla, Inc. has a 12-month low of $273.21 and a 12-month high of $498.83. 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 stock has a market cap of $1.67 trillion, a price-to-earnings ratio of 408.18, a PEG ratio of 16.31 and a beta of 1.79.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. Tesla's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Tesla in a research note on Monday, April 27th. Tigress Financial assumed coverage on shares of Tesla in a research note on Monday, April 27th. They issued a "buy" rating on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research note on Thursday, April 23rd. Stifel Nicolaus set a $508.00 target price on shares of Tesla in a research note on Thursday, January 29th. Finally, Wedbush reaffirmed an "outperform" rating and set a $600.00 target price on shares of Tesla in a research note on Tuesday, April 21st. Nineteen equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $398.42.

About Tesla

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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