Tesla, Inc. $TSLA is Revere Asset Management Inc’s 7th Largest Position

Revere Asset Management Inc lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,224 shares of the electric vehicle producer’s stock after selling 2,851 shares during the quarter. Tesla comprises about 4.3% of Revere Asset Management Inc’s holdings, making the stock its 7th biggest position. Revere Asset Management Inc’s holdings in Tesla were worth $12,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Networth Advisors LLC purchased a new stake in Tesla during the 4th quarter worth approximately $26,000. Davidson Capital Management Inc. increased its stake in Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 27 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new stake in Tesla during the 3rd quarter worth approximately $30,000. Prism Advisors Inc. purchased a new stake in Tesla during the 4th quarter worth approximately $30,000. Finally, Texas Capital Bancshares Inc TX purchased a new stake in Tesla during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA opened at $426.01 on Tuesday. Tesla, Inc. has a one year low of $273.21 and a one year high of $498.83. The stock has a market capitalization of $1.60 trillion, a PE ratio of 390.83, a P/E/G ratio of 16.82 and a beta of 1.79. The business’s 50 day moving average price is $388.38 and its 200 day moving average price is $416.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period in the prior year, the firm posted $0.27 earnings per share. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts expect that Tesla, Inc. will post 1.2 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. Mizuho cut their price objective on Tesla from $540.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Robert W. Baird cut their price objective on Tesla from $538.00 to $522.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Tesla in a research note on Wednesday, April 22nd. Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research note on Tuesday, April 21st. Finally, Benchmark reiterated a “buy” rating on shares of Tesla in a research note on Wednesday, February 11th. Nineteen equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $395.20.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s indirect exposure to SpaceX is getting more attention as SpaceX moves toward an IPO, and some investors are viewing that stake as an added source of upside for TSLA beyond its core auto business. Did Tesla’s SpaceX Stake And China FSD Rollout Just Reframe TSLA’s AI And Autonomy Story?
• Positive Sentiment: Reports that Tesla has rolled out Full Self-Driving (Supervised) in China are helping support the company’s long-term autonomy narrative and could improve investor confidence in future software-driven revenue growth. Weekend Round-Up: Tesla’s FSD In China, Nvidia’s Uber Partnership, Boeing’s 737 Max Case Victory And More
• Positive Sentiment: Elon Musk pushed back on criticism that his politics are hurting Tesla’s brand, while also reiterating that the Model Y remains a sales leader, which may reassure some investors about demand resilience. Elon Musk Hits Back At Tesla Brand Damage Critics, Reaffirms Model Y’s Sales Dominance

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were 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 owned 18,106 shares of the company’s stock, valued at $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This trade represents 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 sold 83,213 shares of company stock worth $32,201,105 over the last quarter. 19.90% of the stock is currently owned by insiders.

Tesla 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.