Pier 88 Investment Partners LLC Reduces Holdings in Tesla, Inc. $TSLA

Pier 88 Investment Partners LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 96.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 300 shares of the electric vehicle producer’s stock after selling 8,700 shares during the period. Pier 88 Investment Partners LLC’s holdings in Tesla were worth $135,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after buying an additional 6,538,720 shares in the last quarter. Holocene Advisors LP grew its position in shares of Tesla by 132.2% during the third quarter. Holocene Advisors LP now owns 6,157,000 shares of the electric vehicle producer’s stock worth $2,738,141,000 after buying an additional 3,505,000 shares in the last quarter. Jennison Associates LLC grew its position in shares of Tesla by 38.3% during the third quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer’s stock worth $4,851,747,000 after buying an additional 3,021,550 shares in the last quarter. Capital World Investors grew its position in shares of Tesla by 5.8% during the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock worth $19,583,547,000 after buying an additional 2,403,019 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Tesla during the fourth quarter worth approximately $748,084,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the completion of the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $7,188,625.18. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 80,213 shares of company stock valued at $30,851,105. Corporate insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TSLA shares. Zacks Research raised shares of Tesla from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Wells Fargo & Company decreased their price target on shares of Tesla from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Thursday, January 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $510.00 price target on shares of Tesla in a research report on Wednesday, April 22nd. Barclays reissued a “neutral” rating on shares of Tesla in a research report on Thursday, April 23rd. Finally, China Renaissance decreased their price target on shares of Tesla from $382.00 to $372.00 and set a “hold” rating for the company in a research report on Monday, April 27th. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $398.42.

Tesla Stock Performance

Tesla stock opened at $444.92 on Tuesday. The company has a market cap of $1.67 trillion, a PE ratio of 408.18, a P/E/G ratio of 16.31 and a beta of 1.79. The company has a fifty day moving average price of $383.61 and a two-hundred day moving average price of $418.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. Tesla, Inc. has a 12 month low of $273.21 and a 12 month high of $498.83.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS 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 the consensus estimate of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. Research analysts expect that Tesla, Inc. will post 1.25 earnings per share for the current year.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s China-made Model 3 and Model Y sales have rebounded for a sixth straight month, and imports into Europe are rising, reinforcing signs that overseas demand is improving. Tesla Stock Is on a Winning Streak with China-Made EVs. Its Imports to Europe Are Increasing.
• Positive Sentiment: Piper Sandler reiterated an Overweight rating and a $500 price target, saying investors may be “buying Optimus for free,” which supports the bull case around Tesla’s AI and robotics value. Tesla: Buying at these levels means you get Optimus for ‘free’, Piper Sandler says
• Positive Sentiment: Investors are also bidding up the stock on expectations for more AI and autonomous-driving news, including robotaxi expansion and possible China Full Self-Driving progress. Tesla Stock Is Starting a Run Higher. Thank China AI.
• Positive Sentiment: Tesla’s AI Vision safety claims and broader robotaxi commentary are helping keep sentiment focused on the company’s longer-term autonomy story rather than just EV sales. Elon Musk Says Tesla AI Vision Deploys Airbags ‘Before Impact’ To Cut Injury, Death Risk, Upgrade ‘Comes For Free On All New Cars’
• Neutral Sentiment: Reports that Tesla has built its final Model S and Model X vehicles mark an end of an era, but the impact on the stock is unclear since those models are a smaller part of the growth story now. End of an era: Tesla has built its final Model S and Model X vehicles
• Negative Sentiment: Tesla also faces overhangs from a Cybertruck recall and renewed competitive pressure in the EV market, which could temper enthusiasm if execution issues persist. Tesla recalls every Cybertruck RWD ever sold — all 173 of them — because the wheels could fall off
• Negative Sentiment: One article argues investors should favor Alphabet’s driverless-car exposure instead of Tesla, highlighting that some market participants still see more attractive valuations elsewhere in autonomous driving. Forget Tesla, Investors Should Buy Alphabet Stock Instead

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.