Convergence Investment Partners LLC Sells 1,346 Shares of Tesla, Inc. $TSLA

Convergence Investment Partners LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 33.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,626 shares of the electric vehicle producer’s stock after selling 1,346 shares during the quarter. Convergence Investment Partners LLC’s holdings in Tesla were worth $1,181,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Networth Advisors LLC bought a new position in shares of Tesla during the fourth quarter worth about $26,000. Chapman Financial Group LLC bought a new position in shares of Tesla during the second quarter worth about $26,000. Davidson Capital Management Inc. lifted its stake 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 purchasing an additional 27 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Tesla during the 3rd quarter valued at about $29,000. Finally, Prism Advisors Inc. bought a new stake in shares of Tesla during the 4th quarter valued at about $30,000. 66.20% of the stock is currently owned by institutional investors.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla is moving ahead with a $250 million investment in its Berlin Gigafactory, which could expand battery output, add jobs, and support future European production growth. Tesla to Invest $250 Million in Berlin Gigafactory
• Positive Sentiment: New Tesla-linked ETFs are being launched to provide weekly income while still retaining some upside exposure to TSLA, reflecting continued investor demand for the stock. These New Nvidia And Tesla ETFs Want To Deliver Weekly Income Without Fully Sacrificing Upside
• Neutral Sentiment: Elon Musk’s China trip kept Tesla in the spotlight, but the meeting produced no major breakthrough on Full Self-Driving approval or trade terms that investors were hoping for. Tesla Stock Slumps After Trump’s China Trip Ends Without “Material Agreements”
• Neutral Sentiment: Tesla is starting work on a Cybercab car wash in Nevada, signaling progress on robotaxi-related infrastructure, though the project is still early-stage. Tesla (TSLA) to Build Cybercab Car Wash in Nevada as Robotaxi Plans Take Shape
• Negative Sentiment: Robotaxi concerns are intensifying after reports of long wait times, navigation issues, and crashes, reinforcing doubts about Tesla’s timeline for autonomous driving monetization. Tesla robotaxi rollout features long wait times, safety concerns
• Negative Sentiment: An Australian judge sharply criticized Tesla in a class-action case, warning the company could have “a really bad time” if it does not cooperate on document production, adding legal overhang. Australian judge criticises Tesla for ‘gobsmacking’ slow progress in class action lawsuit

Tesla Trading Down 4.8%

Shares of Tesla stock opened at $422.24 on Friday. The stock has a fifty day simple moving average of $386.41 and a 200 day simple moving average of $418.28. Tesla, Inc. has a 12-month low of $273.21 and a 12-month high of $498.83. The company has a market capitalization of $1.59 trillion, a P/E ratio of 387.38, a price-to-earnings-growth ratio of 16.65 and a beta of 1.79. 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 announced 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 return on equity of 4.89% and a net margin of 3.95%.The business had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. Tesla’s revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 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 completion of the transaction, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This 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. In the last three months, insiders sold 83,213 shares of company stock worth $32,201,105. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Tesla in a report on Monday, April 27th. Barclays reiterated a “neutral” rating on shares of Tesla in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, April 23rd. UBS Group lifted their target price on Tesla from $352.00 to $364.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Truist Financial lowered their target price on Tesla from $438.00 to $400.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. Nineteen analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $395.20.

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.