Allstate Corp Acquires 109,888 Shares of Tesla, Inc. $TSLA

Allstate Corp increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 104.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,214 shares of the electric vehicle producer’s stock after acquiring an additional 109,888 shares during the period. Tesla comprises approximately 1.3% of Allstate Corp’s portfolio, making the stock its 18th biggest holding. Allstate Corp’s holdings in Tesla were worth $96,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Networth Advisors LLC bought a new position in Tesla during the fourth quarter valued at $26,000. Chapman Financial Group LLC bought a new position in Tesla during the second quarter valued at $26,000. Davidson Capital Management Inc. grew its holdings in Tesla by 79.4% during the fourth 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 period. Prism Advisors Inc. bought a new position in Tesla during the fourth quarter valued at $30,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of Tesla during the third quarter worth $30,000. 66.20% of the stock is owned by institutional investors.

Trending Headlines about Tesla

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 Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 firm’s stock in a transaction dated 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 sale, the director owned 48,399 shares in the company, valued at $18,300,145.89. The trade was 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 have sold 83,213 shares of company stock worth $32,201,105 in the last 90 days. Company insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TSLA shares. Wells Fargo & Company dropped their target price on Tesla from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Thursday, January 29th. Truist Financial dropped their target price on Tesla from $438.00 to $400.00 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Tesla in a research report on Monday, April 27th. Benchmark restated a “buy” rating on shares of Tesla in a research report on Wednesday, February 11th. Finally, Tigress Financial assumed coverage on Tesla in a research report on Monday, April 27th. They set a “buy” rating on the stock. Nineteen research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $395.20.

Tesla Stock Performance

NASDAQ TSLA opened at $426.01 on Tuesday. The stock’s 50-day simple moving average is $388.38 and its two-hundred day simple moving average is $416.42. Tesla, Inc. has a twelve month low of $273.21 and a twelve month high of $498.83. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 390.83, a PEG ratio of 16.82 and a beta of 1.79.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share 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 business had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter last year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 1.2 EPS for the current fiscal 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.