SmartHarvest Portfolios LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,764 shares of the electric vehicle producer's stock after selling 2,942 shares during the period. Tesla makes up approximately 2.1% of SmartHarvest Portfolios LLC's investment portfolio, making the stock its 7th largest holding. SmartHarvest Portfolios LLC's holdings in Tesla were worth $5,117,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. PFS Partners LLC grew its position in Tesla by 4.2% during the 4th quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer's stock worth $265,000 after purchasing an additional 24 shares during the last quarter. Boltwood Capital Management raised its holdings in shares of Tesla by 1.2% in the fourth quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer's stock worth $953,000 after buying an additional 25 shares during the last quarter. Woodmont Investment Counsel LLC lifted its stake in shares of Tesla by 1.2% during the fourth quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer's stock worth $955,000 after buying an additional 25 shares during the period. Aspect Partners LLC grew its holdings in shares of Tesla by 12.5% during the fourth quarter. Aspect Partners LLC now owns 225 shares of the electric vehicle producer's stock valued at $101,000 after buying an additional 25 shares during the last quarter. Finally, Human Investing LLC increased its position in shares of 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 acquiring an additional 25 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages recently issued reports on TSLA. The Goldman Sachs Group assumed coverage on Tesla in a research note on Friday, June 5th. They issued a "buy" rating for the company. Barclays reissued a "neutral" rating on shares of Tesla in a report on Wednesday, May 13th. Canaccord Genuity Group lifted their target price on Tesla from $420.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. HSBC reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 15th. Finally, Citigroup restated a "neutral" rating on shares of Tesla in a research note on Tuesday, June 16th. Twenty-one research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $403.07.
Read Our Latest Research Report on Tesla
Key Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Analysts remained constructive on Tesla’s longer-term growth story, with one Seeking Alpha piece upgrading the stock and arguing that two previously speculative “moonshots” are becoming medium-term catalysts. Tesla: 2 Moonshots Have Now Become Medium-Term Catalysts (Rating Upgrade)
- Positive Sentiment: Tesla announced expansion plans in Germany, including higher production at Gigafactory Berlin, which supports the narrative that demand is improving in Europe. Tesla Expands Production In Germany, As VW Cuts 100,000 Jobs
- Positive Sentiment: Tesla also benefited from headlines around its energy business, including a major 16-gigawatt power partnership with Sunrun and Renew Home that could strengthen Tesla Energy’s growth profile. Tesla (TSLA) Lands 16 Gigawatt U.S. Power Plant Deal And 25 Gigawatt Hour Europe Pact
- Neutral Sentiment: Elon Musk’s teaser about a highly advanced next-generation Roadster and other futuristic ambitions may support the long-term story, but it is not an immediate fundamental catalyst. Elon Musk Teases Flying Tesla Roadster With Crazy Tech
- Negative Sentiment: Tesla is facing renewed federal scrutiny after a fatal Model 3 crash, including an NHTSA probe and a separate NTSB investigation, which raises fresh concerns about Full Self-Driving safety. Tesla Under Fresh Scrutiny After Model 3 Crashes Into Home, Killing Woman
- Negative Sentiment: Tesla also settled a lawsuit tied to a fatal Full Self-Driving crash while federal investigations continue, reinforcing investor worries about legal liability and autonomy risk. Tesla settles FSD crash lawsuit as federal investigations continue
- Negative Sentiment: Several market commentaries argued that Tesla remains expensive relative to its current fundamentals, with valuation skepticism and underperformance concerns weighing on sentiment. Tesla Stock Is Having a Bad Week and an Even Worse Month
Tesla Stock Up 1.2%
Tesla stock opened at $379.71 on Friday. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 348.36, a price-to-earnings-growth ratio of 15.18 and a beta of 1.80. The business's 50-day moving average price is $405.62 and its 200 day moving average price is $413.17. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.
Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.19 earnings per share for the current year.
Insiders Place Their Bets
In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the sale, the chief financial officer directly owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 on 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 transaction, the director directly owned 48,399 shares of the company's stock, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. 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 57,824 shares of company stock worth $21,657,588 over the last three months. 19.90% of the stock is currently owned by insiders.
Tesla Profile
(
Free Report)
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.
Further Reading
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