Pinnacle Associates Ltd. Sells 4,978 Shares of Tesla, Inc. $TSLA

Pinnacle Associates Ltd. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,739 shares of the electric vehicle producer’s stock after selling 4,978 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Tesla were worth $22,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tesla during the 2nd quarter worth $11,839,824,000. Vanguard Group Inc. grew its stake in Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after purchasing an additional 4,502,976 shares during the last quarter. Amundi raised its holdings in Tesla by 20.4% in the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock worth $6,374,284,000 after purchasing an additional 3,422,270 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Tesla by 38.3% during the third quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer’s stock valued at $4,851,747,000 after buying an additional 3,021,550 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Tesla by 2.0% during the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after buying an additional 1,269,304 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Higher oil/gas prices make EV ownership relatively more attractive, which could support Tesla vehicle demand and margins in coming months. Oil prices are surging. Will that help Tesla and others sell more EVs?
• Positive Sentiment: February Europe registrations rose ~10% for Tesla in some reporting, showing pockets of demand resilience despite competitive pressure. Tesla’s Europe registrations rise 10% in February despite sales drops in key markets
• Positive Sentiment: Bank of America issued a buy/upgrade view on Tesla (along with legacy automakers), citing opportunities such as robotaxi upside that could support a longer‑term recovery in sentiment. BofA Upgrades Ford (F), Tesla (TSLA), and GM (GM) Stock: What Investors Need to Know
• Neutral Sentiment: Tesla filed a new patent suggesting a bold seat design for the next‑gen Roadster — an innovation signal but not an immediate revenue driver. Tesla Patent Points to Bold New Seat Design for Next-Gen Roadster
• Negative Sentiment: BYD unveiled ultra‑fast charging tech (claims of near‑full in ~9 minutes), which threatens Tesla’s Supercharger competitive edge and raises execution/market‑share risk. BYD Needs Just 9 Minutes To Challenge Tesla’s Last Great Advantage
• Negative Sentiment: UK sales plunged ~37% year‑over‑year in February, underscoring uneven regional recovery and intensifying competitive pressure from Chinese EV makers. Tesla UK car sales drop 37% as Chinese competition heightens, SMMT data shows
• Negative Sentiment: Analyst action and option‑market signals are bearish: BNP Paribas/Exane cut TSLA targets and near‑term put premiums are elevated, implying hedging/short interest and potential selling pressure. BNP Paribas Exane Cuts Tesla (NASDAQ:TSLA) Price Target to $280.00

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSLA. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research report on Thursday, January 29th. HSBC reissued a “reduce” rating on shares of Tesla in a research report on Monday, November 17th. Canaccord Genuity Group set a $520.00 price target on shares of Tesla in a report on Thursday, January 29th. Piper Sandler reaffirmed an “overweight” rating on shares of Tesla in a research report on Thursday, January 29th. Finally, BNP Paribas Exane decreased their price objective on Tesla from $313.00 to $280.00 and set an “underperform” rating for the company in a report on Monday, March 2nd. Nineteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $406.84.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 25,731 shares of Tesla stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $415.56, for a total value of $10,692,774.36. Following the sale, the director directly owned 19,669 shares of the company’s stock, valued at approximately $8,173,649.64. This represents a 56.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 142,551 shares of company stock valued at $63,023,276 in the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Stock Down 2.2%

NASDAQ:TSLA opened at $396.73 on Monday. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $498.83. The company has a market cap of $1.49 trillion, a PE ratio of 367.34, a P/E/G ratio of 11.73 and a beta of 1.89. The company’s 50 day moving average is $425.17 and its two-hundred day moving average is $424.02.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $24.75 billion. During the same quarter last year, the company posted $0.73 earnings per share. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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.