Hanson & Doremus Investment Management Purchases 7,595 Shares of Tesla, Inc. $TSLA

Hanson & Doremus Investment Management raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6,076.0% during the first quarter, Holdings Channel.com reports. The fund owned 7,720 shares of the electric vehicle producer’s stock after buying an additional 7,595 shares during the period. Hanson & Doremus Investment Management’s holdings in Tesla were worth $2,870,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TSLA. Crestwood Advisors Group LLC boosted its position in shares of Tesla by 34.7% during the fourth quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer’s stock worth $8,799,000 after acquiring an additional 5,039 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Tesla by 29.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer’s stock valued at $14,487,000 after acquiring an additional 7,446 shares during the last quarter. Calamos Wealth Management LLC lifted its stake in Tesla by 5.9% in the 4th quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer’s stock worth $18,846,000 after purchasing an additional 2,341 shares in the last quarter. Private Capital Advisors Inc. boosted its holdings in shares of Tesla by 139.3% during the 4th quarter. Private Capital Advisors Inc. now owns 21,331 shares of the electric vehicle producer’s stock valued at $9,593,000 after purchasing an additional 12,417 shares during the last quarter. Finally, Wealthquest Corp bought a new position in shares of Tesla during the 4th quarter valued at about $1,035,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 5.8%

TSLA opened at $381.61 on Wednesday. The stock has a 50-day moving average of $405.18 and a 200 day moving average of $414.53. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12 month low of $288.77 and a 12 month high of $498.83. The firm has a market cap of $1.43 trillion, a P/E ratio of 350.10, a P/E/G ratio of 16.19 and a beta of 1.80.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 1.19 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director owned 48,399 shares in the company, valued at $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 the stock in a transaction 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 completion of the sale, the chief financial officer directly owned 22,039 shares in the company, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 57,824 shares of company stock worth $21,657,588 in the last 90 days. 19.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Friday, June 12th. Roth Mkm reissued a “buy” rating on shares of Tesla in a research note on Thursday, April 23rd. Citigroup reaffirmed a “neutral” rating on shares of Tesla in a research note on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft began coverage on Tesla in a report on Friday, June 5th. They set a “buy” rating on the stock. Finally, Piper Sandler reiterated an “overweight” rating on shares of Tesla in a research report on Wednesday, June 10th. Twenty-one investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $405.06.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European registrations more than doubled in May, suggesting a rebound in demand in a major EV market. Tesla Auto Registrations in Europe Gain in May, Other Makers Mixed
• Positive Sentiment: Tesla and NatPower agreed to the first phase of a battery-storage partnership that could become a multi-billion-dollar project. NatPower, Tesla reach deal on first phase of $5 billion battery storage plan
• Positive Sentiment: Tesla’s “Megapod” trademark filing fueled speculation that it could expand further into AI infrastructure. Tesla Shares Surge After Megapod Trademark Filing
• Neutral Sentiment: Analysts are debating Tesla’s near-term delivery outlook ahead of Q2 results, with mixed expectations. Here’s What UBS and Baird Expect from Tesla’s Q2 Deliveries
• Negative Sentiment: U.S. regulators opened a new investigation into a fatal Texas crash involving a Tesla vehicle, renewing safety concerns around Autopilot/FSD. Finland may approve Tesla’s supervised self-driving software before EU vote
• Negative Sentiment: Several articles argued Tesla’s rally is vulnerable because expectations for robotaxis, AI, and other future growth may be too optimistic relative to current fundamentals. Tesla: An Optimistic Or Unrealistic Forecast May Not Sustain Shares Forever

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.