GPM Growth Investors Inc. Purchases New Position in Tesla, Inc. $TSLA

GPM Growth Investors Inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 5,379 shares of the electric vehicle producer’s stock, valued at approximately $2,000,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Tesla during the fourth quarter worth about $17,128,100,000. Corient Private Wealth LLC lifted its holdings in shares of Tesla by 3,205.5% in the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Tesla by 56.0% in the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock valued at $9,334,211,000 after purchasing an additional 7,450,766 shares during the period. Cardano Risk Management B.V. boosted its position in shares of Tesla by 882.8% in the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock valued at $3,688,630,000 after purchasing an additional 7,367,507 shares during the period. Finally, Vanguard Group Inc. increased its stake in Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred 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 owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. The trade was a 10.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 32,015 shares of company stock valued at $12,383,640 in the last quarter. Company insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. Robert W. Baird reduced their target price on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating for the company in a report on Friday, April 24th. The Goldman Sachs Group started coverage on Tesla in a research note on Friday, June 5th. They set a “buy” rating for the company. Erste Group Bank raised Tesla from a “sell” rating to a “hold” rating in a research report on Friday, June 5th. TD Cowen reissued a “buy” rating on shares of Tesla in a report on Monday. Finally, Barclays restated a “neutral” rating on shares of Tesla in a research note on Wednesday, May 13th. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $403.92.

Tesla Stock Down 7.5%

Tesla stock opened at $393.45 on Friday. The stock’s 50 day moving average price is $407.27 and its 200 day moving average price is $411.92. Tesla, Inc. has a 1-year low of $288.77 and a 1-year high of $498.83. The company has a market cap of $1.48 trillion, a PE ratio of 360.96, a price-to-earnings-growth ratio of 16.88 and a beta of 1.80. 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 (NASDAQ:TSLA) last released 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. The firm had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 1.2 EPS for the current fiscal year.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Q2 deliveries beat expectations by a wide margin, reinforcing that the company’s automotive business is regaining momentum. Reuters: Tesla posts stronger-than-expected Q2 deliveries as Europe sales improve
• Positive Sentiment: U.S. regulators closed a probe into Tesla’s braking issue, removing one overhang tied to safety concerns. Reuters: U.S. closes 2022 probe into 695,000 Tesla vehicles over unexpected braking
• Positive Sentiment: Tesla launched a six-seater long-wheelbase Model Y in the U.S. to support sales after the loss of a key tax credit, which could help broaden demand. Reuters: Tesla launches six-seater Model Y L in US to boost sales
• Neutral Sentiment: Analysts remain split: some raised earnings estimates and price targets, but several maintained Hold/neutral views, citing valuation risk.
• Negative Sentiment: Multiple reports say the stock is selling off because investors are focused on margin and profitability concerns rather than the delivery beat, implying the market had already priced in strong numbers.
• Negative Sentiment: Safety headlines remain a drag, including a fatal Tesla Semi crash in Nevada and a Texas manslaughter charge tied to a Tesla using driver-assistance features, which could renew scrutiny of Tesla’s technology and brand.
• Negative Sentiment: Michael Burry disclosed a bearish bet against Tesla, adding another headline that may be pressuring sentiment.

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.