Benjamin Edwards Inc. Has $15.61 Million Position in Tesla, Inc. $TSLA

Benjamin Edwards Inc. raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,105 shares of the electric vehicle producer’s stock after buying an additional 2,403 shares during the period. Benjamin Edwards Inc.’s holdings in Tesla were worth $15,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in TSLA. Sidoxia Capital Management LLC raised its stake in shares of Tesla by 6.7% in the second quarter. Sidoxia Capital Management LLC now owns 3,285 shares of the electric vehicle producer’s stock worth $1,381,000 after purchasing an additional 206 shares during the last quarter. Montz Harcus Wealth Management LLC raised its position in Tesla by 3.6% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,452 shares of the electric vehicle producer’s stock valued at $1,031,000 after buying an additional 86 shares during the last quarter. Ridgeline Wealth Planning LLC bought a new position in Tesla during the 2nd quarter valued at $210,000. XML Financial LLC boosted its holdings in Tesla by 3.2% during the 2nd quarter. XML Financial LLC now owns 5,991 shares of the electric vehicle producer’s stock worth $2,520,000 after acquiring an additional 187 shares during the last quarter. Finally, Vest Financial LLC grew its stake in shares of Tesla by 1.6% in the 2nd quarter. Vest Financial LLC now owns 47,847 shares of the electric vehicle producer’s stock worth $20,124,000 after acquiring an additional 767 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada increased Tesla’s permitted Las Vegas robotaxi fleet from 10 vehicles to 5,000, providing regulatory support for the company’s autonomous-driving strategy. However, Tesla still must deploy and operate the expanded fleet successfully. Nevada robotaxi approval
• Positive Sentiment: Elon Musk teased a larger Tesla vehicle, potentially an SUV or Robovan, addressing a product gap in family-oriented vehicles and potentially expanding the company’s addressable market. Tesla Robovan teaser

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $402.20, for a total value of $1,048,133.20. Following the transaction, the chief financial officer owned 22,039 shares in the company, valued at approximately $8,864,085.80. This trade represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target (down from $510.00) on shares of Tesla in a research note on Thursday, July 23rd. DZ Bank raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $475.00 to $445.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. HSBC reissued a “hold” rating on shares of Tesla in a report on Monday, June 15th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Tesla in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, nineteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $401.74.

Tesla Stock Down 1.3%

Shares of NASDAQ:TSLA opened at $345.82 on Thursday. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 320.21, a price-to-earnings-growth ratio of 17.68 and a beta of 1.83. The stock’s 50-day moving average price is $362.28 and its 200-day moving average price is $385.80. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12-month low of $297.38 and a 12-month high of $498.83.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company had revenue of $28.24 billion for the quarter, compared to analysts’ expectations of $26.42 billion. During the same quarter in the prior year, the company earned $0.33 earnings per share. The company’s revenue was up 25.5% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 0.88 earnings per share for the current year.

About Tesla

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.