Hanson & Doremus Investment Management Increases Stock Position in Tesla, Inc. $TSLA

Hanson & Doremus Investment Management raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6,076.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,720 shares of the electric vehicle producer’s stock after purchasing an additional 7,595 shares during the period. Hanson & Doremus Investment Management’s holdings in Tesla were worth $2,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Brighton Jones LLC boosted its position in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Bison Wealth LLC lifted its stake in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after acquiring an additional 3,558 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Tesla by 9.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer’s stock valued at $3,855,000 after acquiring an additional 1,011 shares during the last quarter. Finally, AGP Franklin LLC boosted its holdings in shares of Tesla by 21.2% during the 2nd quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer’s stock valued at $1,544,000 after acquiring an additional 851 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 5.8%

TSLA opened at $381.61 on Wednesday. The firm’s 50 day simple moving average is $405.18 and its two-hundred day simple moving average is $414.53. The company has a market capitalization of $1.43 trillion, a PE ratio of 350.10, a PEG ratio of 16.19 and a beta of 1.80. Tesla, Inc. has a 1-year low of $288.77 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.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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. The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 1.19 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director owned 48,399 shares of the company’s stock, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Tesla stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following 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 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. Insiders have sold 57,824 shares of company stock worth $21,657,588 over the last quarter. 19.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. Citigroup reissued a “neutral” rating on shares of Tesla in a report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Tesla in a research report on Friday, June 5th. They issued a “buy” rating for the company. Jefferies Financial Group boosted their target price on shares of Tesla from $350.00 to $375.00 and gave the company a “hold” rating in a research note on Monday. China Renaissance lowered their price target on Tesla from $382.00 to $372.00 and set a “hold” rating on the stock in a report on Monday, April 27th. Finally, TD Cowen restated a “buy” rating and issued a $490.00 price target on shares of Tesla in a research note on Thursday, June 4th. Twenty-one research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $405.06.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European registrations more than doubled in May, suggesting a rebound in demand in a major EV market. Tesla Auto Registrations in Europe Gain in May, Other Makers Mixed
• Positive Sentiment: Tesla and NatPower agreed to the first phase of a battery-storage partnership that could become a multi-billion-dollar project. NatPower, Tesla reach deal on first phase of $5 billion battery storage plan
• Positive Sentiment: Tesla’s “Megapod” trademark filing fueled speculation that it could expand further into AI infrastructure. Tesla Shares Surge After Megapod Trademark Filing
• Neutral Sentiment: Analysts are debating Tesla’s near-term delivery outlook ahead of Q2 results, with mixed expectations. Here’s What UBS and Baird Expect from Tesla’s Q2 Deliveries
• Negative Sentiment: U.S. regulators opened a new investigation into a fatal Texas crash involving a Tesla vehicle, renewing safety concerns around Autopilot/FSD. Finland may approve Tesla’s supervised self-driving software before EU vote
• Negative Sentiment: Several articles argued Tesla’s rally is vulnerable because expectations for robotaxis, AI, and other future growth may be too optimistic relative to current fundamentals. Tesla: An Optimistic Or Unrealistic Forecast May Not Sustain Shares Forever

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.