Assetmark Inc. Has $136.34 Million Stock Position in Tesla, Inc. $TSLA

Assetmark Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 366,757 shares of the electric vehicle producer’s stock after purchasing an additional 11,084 shares during the period. Assetmark Inc.’s holdings in Tesla were worth $136,342,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Tigress Financial assumed coverage on shares of Tesla in a research note on Monday, April 27th. They issued a “buy” rating for the company. Barclays boosted their price target on shares of Tesla from $360.00 to $370.00 and gave the company an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group assumed coverage on Tesla in a research note on Friday, June 5th. They set a “buy” rating on the stock. Royal Bank Of Canada lifted their target price on Tesla from $475.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Finally, Wedbush reissued an “outperform” rating and issued a $600.00 target price on shares of Tesla in a research note on Tuesday, April 21st. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $408.07.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction that occurred on 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 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 Securities & Exchange Commission, 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 that occurred on Monday, June 8th. The shares were 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 approximately $8,864,085.80. This represents a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 32,015 shares of company stock worth $12,383,640. Corporate insiders own 19.90% of the company’s stock.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s stronger-than-expected vehicle deliveries last quarter support the case that demand remains resilient, and the company may also benefit from tighter global emissions rules that could accelerate EV adoption. Tesla’s Delivery Surprise Was Big—Earnings Need to Be Bigger
• Positive Sentiment: Investor interest is high ahead of the July 22 earnings call, with questions focused on robotaxi progress, Optimus, Cybercab, and Elon Musk’s comments, which could provide a catalyst if Tesla offers credible updates. Tesla Q2 Earnings: Elon Musk’s Pay Package, Cybercab and Optimus Lead Top Investor Questions
• Positive Sentiment: Some analysts remain constructive, noting Tesla is positioned to benefit from EV adoption trends and long-term software/autonomy opportunities. Tesla Rides Tightening Global Emission Standards for EV Thrust

Tesla Trading Down 0.9%

Shares of NASDAQ:TSLA opened at $391.06 on Friday. The firm has a market cap of $1.47 trillion, a price-to-earnings ratio of 358.77, a PEG ratio of 14.39 and a beta of 1.80. Tesla, Inc. has a 12 month low of $297.82 and a 12 month high of $498.83. The company’s fifty day simple moving average is $410.37 and its 200 day simple moving average is $406.18. 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 announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion during 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%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 EPS. As a group, research analysts forecast that Tesla, Inc. will post 1.3 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.