Waystone Advisors LLC Makes New Investment in Tesla, Inc. $TSLA

Key Points

• Waystone Advisors LLC opened a new position in Tesla during the fourth quarter, buying 1,867 shares valued at about $840,000.
• Several other hedge funds also increased their Tesla holdings, and institutional investors now own about 66.2% of the company’s shares.
• Tesla’s stock was up 1.6% to $440.36, while analysts remain mixed overall with a consensus rating of “Hold” and an average price target of $395.20.

Waystone Advisors LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,867 shares of the electric vehicle producer's stock, valued at approximately $840,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Bison Wealth LLC grew its holdings in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after buying an additional 3,558 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Tesla by 9.1% during the second quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer's stock worth $3,855,000 after buying an additional 1,011 shares during the last quarter. Finally, AGP Franklin LLC grew its holdings in shares of Tesla by 21.2% during the second quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer's stock worth $1,544,000 after buying an additional 851 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of Tesla 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 in the company, valued at $8,147,700. The trade was a 14.21% decrease in their position. The sale was disclosed in a document filed 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 that occurred 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 transaction, the director owned 48,399 shares of the company's stock, valued at $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 57,482 shares of company stock valued at $21,508,331 over the last 90 days. Insiders own 19.90% of the company's stock.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European sales momentum appears to be improving, with multiple reports citing April registrations up sharply year over year and suggesting the EV business is regaining traction after a long slump. Tesla Logs Strong Growth in European Monthly Sales
• Positive Sentiment: Wall Street is also focusing on Tesla’s robotaxi and Optimus opportunities, with coverage saying a new patent could protect future revenue drivers and that the stock is approaching a technical breakout setup. Tesla Patent Could Protect Two Biggest Future Revenue Drivers: Here's Why 'Lens Cleaning System' May Matter
• Positive Sentiment: Renewed speculation around a possible SpaceX-Tesla tie-up is adding excitement, with reports and commentary suggesting the rumored SpaceX IPO could become a major long-term catalyst for Tesla shareholders. SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSLA. DZ Bank raised Tesla from a "sell" rating to a "hold" rating and set a $385.00 price target on the stock in a report on Friday, April 24th. Morgan Stanley set a $415.00 price target on Tesla and gave the stock an "equal weight" rating in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Tesla in a research note on Monday, April 27th. Wedbush reissued an "outperform" rating and set a $600.00 price target on shares of Tesla in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Thursday, April 23rd. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $395.20.

Tesla Trading Up 1.6%

Shares of Tesla stock opened at $440.36 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. Tesla, Inc. has a 1 year low of $273.21 and a 1 year high of $498.83. The company has a market capitalization of $1.65 trillion, a P/E ratio of 404.00, a P/E/G ratio of 17.12 and a beta of 1.79. The business has a 50 day moving average price of $390.12 and a 200 day moving average price of $416.18.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) 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 in the previous year, the firm posted $0.27 EPS. The company's quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 1.2 EPS for the current fiscal year.

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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