Independent Financial Group LLC Purchases Shares of 65,501 Tesla, Inc. $TSLA

Independent Financial Group LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 65,501 shares of the electric vehicle producer’s stock, valued at approximately $24,350,000. Tesla comprises about 0.7% of Independent Financial Group LLC’s holdings, making the stock its 12th biggest holding.

A number of other institutional investors also recently modified their holdings of TSLA. Networth Advisors LLC bought a new stake in Tesla during the 4th quarter worth approximately $26,000. Davidson Capital Management Inc. raised its position in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. Turning Point Benefit Group Inc. acquired a new position in Tesla in the third quarter worth $30,000. Prism Advisors Inc. bought a new stake in shares of Tesla during the fourth quarter worth $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in shares of Tesla in the third quarter valued at $31,000. Institutional investors own 66.20% of the company’s stock.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s stronger-than-expected vehicle deliveries last quarter support the case that demand remains resilient, and the company may also benefit from tighter global emissions rules that could accelerate EV adoption. Tesla’s Delivery Surprise Was Big—Earnings Need to Be Bigger
• Positive Sentiment: Investor interest is high ahead of the July 22 earnings call, with questions focused on robotaxi progress, Optimus, Cybercab, and Elon Musk’s comments, which could provide a catalyst if Tesla offers credible updates. Tesla Q2 Earnings: Elon Musk’s Pay Package, Cybercab and Optimus Lead Top Investor Questions
• Positive Sentiment: Some analysts remain constructive, noting Tesla is positioned to benefit from EV adoption trends and long-term software/autonomy opportunities. Tesla Rides Tightening Global Emission Standards for EV Thrust

Analyst Ratings Changes

A number of research analysts recently issued reports on TSLA shares. TD Cowen reaffirmed a “buy” rating on shares of Tesla in a report on Monday, June 29th. Jefferies Financial Group set a $400.00 price objective on shares of Tesla and gave the company a “hold” rating in a research report on Monday. Phillip Securities dropped their target price on shares of Tesla from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Wednesday, May 13th. HSBC reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 15th. Finally, Evercore raised shares of Tesla from a “hold” rating to an “outperform” rating in a research note on Friday, June 5th. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $408.07.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $391.06 on Friday. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 358.77, a P/E/G ratio of 14.39 and a beta of 1.80. Tesla, Inc. has a 1-year low of $297.82 and a 1-year high of $498.83. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $410.37 and a two-hundred day moving average price of $406.18.

Tesla (NASDAQ:TSLA) last released its earnings results 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. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 1.3 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 18,106 shares in the company, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. 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 sold 32,015 shares of company stock worth $12,383,640 over the last 90 days. 19.90% of the stock is currently owned by company 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.