Edgestream Partners L.P. Trims Stock Holdings in Tesla, Inc. $TSLA

Edgestream Partners L.P. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 51.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,172 shares of the electric vehicle producer’s stock after selling 16,216 shares during the quarter. Edgestream Partners L.P.’s holdings in Tesla were worth $5,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Tesla during the 4th quarter worth $17,128,100,000. Corient Private Wealth LLC raised its stake in shares of Tesla by 3,205.5% in the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Tesla by 56.0% during the fourth quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock worth $9,334,211,000 after purchasing an additional 7,450,766 shares during the last quarter. Cardano Risk Management B.V. lifted its position in shares of Tesla by 882.8% during the fourth quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock worth $3,688,630,000 after purchasing an additional 7,367,507 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after purchasing an additional 6,538,720 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $308.85 on Friday. The company has a market cap of $1.22 trillion, a P/E ratio of 285.97, a PEG ratio of 14.80 and a beta of 1.80. The business has a 50 day moving average of $392.23 and a two-hundred day moving average of $398.52. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83. The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The company had revenue of $28.24 billion for the quarter, compared to analyst estimates of $26.42 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm’s revenue for the quarter was up 25.5% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 0.89 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the sale, the chief financial officer directly owned 22,039 shares of the company’s stock, valued at $8,864,085.80. This trade represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is owned by corporate insiders.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla produced its 10 millionth electric vehicle, a milestone that reinforces the company’s manufacturing scale and long-term position in the EV market. Tesla made its 10 millionth EV
• Positive Sentiment: Global EV sales accelerated in the second quarter, particularly in countries affected by higher gasoline prices. Tesla could benefit from stronger international demand alongside BYD. Tesla and BYD Ride Global EV Boom
• Positive Sentiment: Reports highlighting the safety performance of Tesla’s supervised Full Self-Driving system in Europe support the company’s autonomy strategy, although regulatory and commercial hurdles remain. Tesla’s European Full Self-Driving Supervised
• Positive Sentiment: ARK Invest’s Cathie Wood reportedly bought approximately $53.5 million of Tesla shares after the selloff, signaling continued confidence in robotaxis, Optimus and AI-related growth. Cathie Wood Bought Tesla Stock

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research upgraded Tesla from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Jefferies Financial Group set a $400.00 target price on Tesla and gave the stock a “hold” rating in a research report on Monday, July 13th. Truist Financial set a $370.00 price target on Tesla and gave the company a “hold” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. reduced their price objective on Tesla from $475.00 to $445.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Finally, Morgan Stanley decreased their price objective on shares of Tesla from $417.00 to $400.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nineteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $402.24.

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.