Fred Alger Management LLC Buys 180,405 Shares of Tesla, Inc. $TSLA

Fred Alger Management LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,653,074 shares of the electric vehicle producer’s stock after purchasing an additional 180,405 shares during the period. Tesla makes up approximately 2.9% of Fred Alger Management LLC’s portfolio, making the stock its 9th biggest holding. Fred Alger Management LLC’s holdings in Tesla were worth $743,420,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Brighton Jones LLC grew its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its position in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC grew its position in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares during the period. Sivia Capital Partners LLC boosted its stake 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 worth $3,855,000 after acquiring an additional 1,011 shares in the last quarter. Finally, AGP Franklin LLC boosted its stake 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 worth $1,544,000 after acquiring an additional 851 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. Evercore raised shares of Tesla from a “hold” rating to an “outperform” rating in a research note on Friday, June 5th. TD Cowen reissued a “buy” rating and set a $490.00 target price on shares of Tesla in a research note on Thursday, June 4th. HSBC reissued a “hold” rating on shares of Tesla in a research note on Monday. Barclays reissued a “neutral” rating on shares of Tesla in a research note on Wednesday, May 13th. Finally, Erste Group Bank raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Twenty-one research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $404.37.

Tesla Trading Down 1.6%

Shares of Tesla stock opened at $404.66 on Wednesday. The firm has a market capitalization of $1.52 trillion, a PE ratio of 371.25, a P/E/G ratio of 16.44 and a beta of 1.80. Tesla, Inc. has a twelve month low of $288.77 and a twelve month high of $498.83. The firm’s 50-day moving average price is $400.24 and its 200 day moving average price is $415.78. 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 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. The firm had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. Tesla’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 1.19 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, 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 transaction, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 57,824 shares of company stock worth $21,657,588 over the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Goldman Sachs raised its Q2 delivery forecast for Tesla, saying shipments appear to be tracking ahead of consensus, which supports the case for stronger near-term fundamentals. Tesla Q2 deliveries “likely tracking ahead of consensus”: Goldman
• Positive Sentiment: Tesla’s AI5 chip reportedly completed tape-out, reinforcing the company’s push into AI, autonomy, and custom hardware beyond its core EV business. Tesla’s AI5 Chip Recently Completed Tape-Out
• Neutral Sentiment: Investors are still speculating about a Tesla-SpaceX merger, but it remains unconfirmed and faces major regulatory and execution hurdles, so it is more a valuation narrative than an immediate business catalyst. Could a Tesla-SpaceX Merger Be Closer Than Investors Think?
• Negative Sentiment: U.S. senators are urging a review of Tesla’s FSD safety data after Reuters reporting questioned the accuracy of Tesla’s self-published crash statistics, increasing regulatory and reputational risk around autonomy. US senators ask for review of Tesla’s ‘Full Self-Driving’ safety data
• Negative Sentiment: Reuters also reported that regulators in Sweden and the Netherlands believe Tesla presented misleading FSD safety data, adding to concerns that could slow European approval efforts and weigh on sentiment. Exclusive: Tesla presented misleading ‘Full Self-Driving’ safety data to European regulators

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.