Baker Avenue Asset Management LP Raises Stake in Tesla, Inc. $TSLA

Baker Avenue Asset Management LP lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.5% in the fourth quarter, Holdings Channel reports. The firm owned 97,025 shares of the electric vehicle producer’s stock after purchasing an additional 13,713 shares during the period. Tesla makes up about 1.0% of Baker Avenue Asset Management LP’s investment portfolio, making the stock its 23rd biggest position. Baker Avenue Asset Management LP’s holdings in Tesla were worth $43,634,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC grew its holdings in shares of Tesla by 1.1% during the 3rd quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock worth $923,000 after purchasing an additional 23 shares during the period. PFS Partners LLC boosted its holdings in Tesla by 4.2% in the 4th quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer’s stock worth $265,000 after acquiring an additional 24 shares during the period. Bank of Jackson Hole Trust boosted its holdings in Tesla by 1.0% in the 3rd quarter. Bank of Jackson Hole Trust now owns 2,497 shares of the electric vehicle producer’s stock worth $1,110,000 after acquiring an additional 25 shares during the period. Presidio Capital Management LLC boosted its holdings in Tesla by 0.6% in the 3rd quarter. Presidio Capital Management LLC now owns 3,996 shares of the electric vehicle producer’s stock worth $1,777,000 after acquiring an additional 25 shares during the period. Finally, Journey Advisory Group LLC boosted its holdings in Tesla by 0.7% in the 3rd quarter. Journey Advisory Group LLC now owns 3,414 shares of the electric vehicle producer’s stock worth $1,518,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the sale, the chief financial officer directly owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 57,482 shares of company stock worth $21,508,331. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $440.36 on Thursday. 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 firm has a market cap of $1.65 trillion, a P/E ratio of 404.00, a P/E/G ratio of 17.12 and a beta of 1.79. Tesla, Inc. has a 12-month low of $273.21 and a 12-month high of $498.83. The stock’s 50 day simple moving average is $390.12 and its 200 day simple moving average is $416.18.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 1.2 EPS for the current year.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European sales momentum appears to be improving, with multiple reports citing April registrations up sharply year over year and suggesting the EV business is regaining traction after a long slump. Tesla Logs Strong Growth in European Monthly Sales
• Positive Sentiment: Wall Street is also focusing on Tesla’s robotaxi and Optimus opportunities, with coverage saying a new patent could protect future revenue drivers and that the stock is approaching a technical breakout setup. Tesla Patent Could Protect Two Biggest Future Revenue Drivers: Here’s Why ‘Lens Cleaning System’ May Matter
• Positive Sentiment: Renewed speculation around a possible SpaceX-Tesla tie-up is adding excitement, with reports and commentary suggesting the rumored SpaceX IPO could become a major long-term catalyst for Tesla shareholders. SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLA. Roth Mkm restated a “buy” rating on shares of Tesla in a report on Thursday, April 23rd. Royal Bank Of Canada restated a “buy” rating on shares of Tesla in a report on Monday, April 27th. Canaccord Genuity Group upped their target price on Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $510.00 target price on shares of Tesla in a research report on Wednesday, April 22nd. Finally, Glj Research reaffirmed a “sell” rating on shares of Tesla in a research report on Tuesday, April 21st. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $395.20.

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.