Sterling Capital Management LLC Has $34.36 Million Stock Holdings in Tesla, Inc. $TSLA

Sterling Capital Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 34.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 92,425 shares of the electric vehicle producer’s stock after selling 48,384 shares during the period. Sterling Capital Management LLC’s holdings in Tesla were worth $34,359,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Networth Advisors LLC acquired a new stake in Tesla during the fourth quarter valued at approximately $26,000. Davidson Capital Management Inc. raised its holdings in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 27 shares in the last quarter. Turning Point Benefit Group Inc. bought a new position in shares of Tesla during the 3rd quarter worth approximately $30,000. Prism Advisors Inc. bought a new position in shares of Tesla during the 4th quarter worth approximately $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in Tesla in the 3rd quarter valued at $31,000. Institutional investors own 66.20% of the company’s stock.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Analysts remained constructive on Tesla’s longer-term growth story, with one Seeking Alpha piece upgrading the stock and arguing that two previously speculative “moonshots” are becoming medium-term catalysts. Tesla: 2 Moonshots Have Now Become Medium-Term Catalysts (Rating Upgrade)
• Positive Sentiment: Tesla announced expansion plans in Germany, including higher production at Gigafactory Berlin, which supports the narrative that demand is improving in Europe. Tesla Expands Production In Germany, As VW Cuts 100,000 Jobs
• Positive Sentiment: Tesla also benefited from headlines around its energy business, including a major 16-gigawatt power partnership with Sunrun and Renew Home that could strengthen Tesla Energy’s growth profile. Tesla (TSLA) Lands 16 Gigawatt U.S. Power Plant Deal And 25 Gigawatt Hour Europe Pact
• Neutral Sentiment: Elon Musk’s teaser about a highly advanced next-generation Roadster and other futuristic ambitions may support the long-term story, but it is not an immediate fundamental catalyst. Elon Musk Teases Flying Tesla Roadster With Crazy Tech
• Negative Sentiment: Tesla is facing renewed federal scrutiny after a fatal Model 3 crash, including an NHTSA probe and a separate NTSB investigation, which raises fresh concerns about Full Self-Driving safety. Tesla Under Fresh Scrutiny After Model 3 Crashes Into Home, Killing Woman
• Negative Sentiment: Tesla also settled a lawsuit tied to a fatal Full Self-Driving crash while federal investigations continue, reinforcing investor worries about legal liability and autonomy risk. Tesla settles FSD crash lawsuit as federal investigations continue
• Negative Sentiment: Several market commentaries argued that Tesla remains expensive relative to its current fundamentals, with valuation skepticism and underperformance concerns weighing on sentiment. Tesla Stock Is Having a Bad Week and an Even Worse Month

Analyst Ratings Changes

Several research analysts have issued reports on the company. The Goldman Sachs Group started coverage on Tesla in a research note on Friday, June 5th. They set a “buy” rating for the company. DZ Bank raised shares of Tesla from a “sell” rating to a “hold” rating and set a $385.00 target price on the stock in a report on Friday, April 24th. Barclays reiterated a “neutral” rating on shares of Tesla in a research report on Wednesday, May 13th. Zacks Research raised shares of Tesla from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Truist Financial decreased their price objective on shares of Tesla from $438.00 to $400.00 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $403.07.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 18,106 shares of the company’s stock, valued at $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 business’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 completion of 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 32,015 shares of company stock valued at $12,383,640. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $379.71 on Monday. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The stock has a market capitalization of $1.43 trillion, a PE ratio of 348.36, a PEG ratio of 15.18 and a beta of 1.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The stock’s fifty day moving average is $405.62 and its 200-day moving average is $412.99.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 1.19 EPS for the current fiscal year.

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.