Sherman Asset Management Inc. Sells 2,030 Shares of Tesla, Inc. $TSLA

Sherman Asset Management Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 38.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,211 shares of the electric vehicle producer’s stock after selling 2,030 shares during the period. Tesla makes up approximately 1.1% of Sherman Asset Management Inc.’s investment portfolio, making the stock its 21st largest position. Sherman Asset Management Inc.’s holdings in Tesla were worth $1,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. Norges Bank bought a new position in shares of Tesla in the fourth quarter worth $17,128,100,000. Corient Private Wealth LLC raised its position 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 buying an additional 20,810,386 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Tesla by 56.0% during the 4th 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 acquiring an additional 7,450,766 shares in the last quarter. Cardano Risk Management B.V. increased its stake in Tesla by 882.8% in the fourth quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock valued at $3,688,630,000 after acquiring an additional 7,367,507 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Tesla by 2.6% during 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 during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TSLA shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Tesla in a report on Wednesday, June 24th. HSBC reissued a “hold” rating on shares of Tesla in a research note on Monday, June 15th. Mizuho decreased their target price on shares of Tesla from $540.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Citizens Jmp initiated coverage on shares of Tesla in a report on Thursday, July 9th. They set a “market perform” rating for the company. Finally, DZ Bank raised Tesla from a “sell” rating to a “hold” rating and set a $385.00 price objective on the stock in a report on Friday, April 24th. Twenty-one investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $408.07.

Tesla Trading Down 0.5%

Shares of NASDAQ TSLA opened at $394.35 on Thursday. The stock has a market cap of $1.48 trillion, a P/E ratio of 361.79, a price-to-earnings-growth ratio of 14.51 and a beta of 1.80. The firm has a 50 day moving average price of $410.77 and a two-hundred day moving average price of $406.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $297.82 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $22.39 billion for the quarter, compared to analysts’ expectations of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. Tesla’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 1.3 EPS for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred 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 owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 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 transaction, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 32,015 shares of company stock valued at $12,383,640. Insiders own 19.90% of the company’s stock.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Wall Street analysts have raised Tesla price targets ahead of Q2 earnings, signaling improved near-term expectations and supporting the stock. Three Price Target Boosts Can’t Help Tesla Stock
• Positive Sentiment: Multiple previews say Tesla could beat Q2 earnings estimates, helped by stronger deliveries and energy storage momentum. TSLA Q2 Earnings Beat Likely: Why the Stock Still Isn’t a Buy
• Positive Sentiment: Retail investors are buying TSLA ahead of earnings, and options traders expect a meaningful post-results move, which can lift trading interest. Retail Investors Charge Into Tesla Stock (TSLA) Ahead of Q2 Earnings
• Positive Sentiment: New operational stories, including a Tesla Semi evaluation partnership and a “Guaranteed Future Value” buying program, suggest ongoing product and demand support. Tesla, Paper Transport partner on electric semi evaluation in Chicago
• Neutral Sentiment: Investors are also watching Tesla’s AI, robotaxi, and robotics ambitions, which could matter more than near-term EV sales if management gives credible updates. Tesla (TSLA) Stock: Analysts Eye July 22 Q2 Earnings as AI Ambitions Overshadow EV Sales
• Negative Sentiment: Wells Fargo kept a bearish tone despite lifting its target, warning Tesla’s valuation could fall sharply if growth disappoints. Wells Fargo Raised Its Tesla Stock Target, but Still Sees a 67% Drop
• Negative Sentiment: The NTSB confirmed a fatal crash involved the driver pressing the accelerator fully, a reminder that safety and Full Self-Driving scrutiny remain headline risks for TSLA. Tesla driver in fatal Texas crash pressed accelerator 100%, NTSB confirms

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.