BLKBRD Asset Management LP Reduces Stake in Tesla, Inc. $TSLA

BLKBRD Asset Management LP reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 81.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,639 shares of the electric vehicle producer’s stock after selling 36,717 shares during the period. Tesla accounts for approximately 5.2% of BLKBRD Asset Management LP’s investment portfolio, making the stock its 12th largest holding. BLKBRD Asset Management LP’s holdings in Tesla were worth $3,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PFS Partners LLC lifted its position in Tesla by 4.2% during the fourth quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer’s stock valued at $265,000 after purchasing an additional 24 shares in the last quarter. Journey Advisory Group LLC lifted its position in Tesla by 0.7% during the third quarter. Journey Advisory Group LLC now owns 3,414 shares of the electric vehicle producer’s stock valued at $1,518,000 after purchasing an additional 25 shares in the last quarter. Boltwood Capital Management lifted its position in Tesla by 1.2% during the fourth quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer’s stock valued at $953,000 after purchasing an additional 25 shares in the last quarter. Woodmont Investment Counsel LLC lifted its position in Tesla by 1.2% during the fourth quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer’s stock valued at $955,000 after purchasing an additional 25 shares in the last quarter. Finally, Aspect Partners LLC lifted its position in Tesla by 12.5% during the fourth quarter. Aspect Partners LLC now owns 225 shares of the electric vehicle producer’s stock valued at $101,000 after purchasing an additional 25 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla 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 sale, the director directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the sale, the chief financial officer directly owned 22,039 shares in the company, valued at $8,864,085.80. This trade represents a 10.57% 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 57,824 shares of company stock worth $21,657,588 over the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $404.66 on Wednesday. The stock’s 50-day simple moving average is $400.24 and its 200-day simple moving average is $415.78. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The company has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 371.25, a PEG ratio of 16.44 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA) last issued its 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 return on equity of 4.89% and a net margin of 3.95%.The firm had revenue of $22.39 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. As a group, analysts expect that Tesla, Inc. will post 1.19 earnings per share for the current fiscal year.

Tesla News Roundup

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

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Truist Financial lowered their target price on Tesla from $438.00 to $400.00 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. HSBC reiterated a “hold” rating on shares of Tesla in a research report on Monday. UBS Group lifted their target price on Tesla from $352.00 to $364.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Sanford C. Bernstein upgraded Tesla from an “underperform” rating to an “outperform” rating in a research report on Friday, June 5th. Finally, The Goldman Sachs Group initiated coverage on Tesla in a research report on Friday, June 5th. They set a “buy” rating on the stock. Twenty-one investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $404.37.

About Tesla

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.