Galvin Gaustad & Stein LLC boosted its investment in Tesla, Inc. by 106.0 percent during the second quarter, acquiring additional shares worth over half a million dollars. The move, detailed in a recent SEC Form 13F filing, reflects ongoing institutional interest in the electric vehicle maker amid mixed market signals. This adjustment brings the firm's total Tesla shares to 1,710, valued at $543,000 at quarter's end.
In its most recent Form 13F filing with the U.S. Securities and Exchange Commission, Galvin Gaustad & Stein LLC reported a significant expansion of its position in Tesla, Inc. (NASDAQ:TSLA). The firm purchased an additional 880 shares during the second quarter, lifting its total holdings to 1,710 shares. These shares were valued at $543,000 as of the end of the quarter.
This increase aligns with broader activity among institutional investors, who collectively own 66.20 percent of Tesla's stock. For context, other major players adjusted their stakes in recent quarters: Goldman Sachs Group Inc. raised its position by 322.1 percent in the first quarter to 26,590,525 shares worth $6,891,201,000; Nuveen LLC initiated a new stake valued at $3,247,619,000; Kingstone Capital Partners Texas LLC surged its holdings by 581,880.5 percent to 6,436,704 shares valued at $2,044,683,000; Amundi increased by 29.4 percent to 16,771,882 shares worth $4,482,789,000; and Vanguard Group Inc. grew its position by 1.5 percent to 246,887,705 shares valued at $63,983,418,000.
Tesla's financial performance provides backdrop to these investments. The company reported earnings on July 23, posting $0.40 earnings per share, missing analyst estimates of $0.43, with revenue of $22.50 billion against expectations of $23.18 billion—a 11.8 percent decline from the prior year. Shares opened at $413.49 on a recent Friday, down 5.1 percent, with a market capitalization of $1.37 trillion.
Analyst views remain varied, with a consensus 'Hold' rating and $354.67 target price from MarketBeat data, including two Strong Buy, 19 Buy, 13 Hold, and eight Sell ratings. Recent updates include Goldman Sachs raising its price target to $425 with a 'neutral' rating on October 3, and TD Cowen lifting to $509 with a 'buy' on an unspecified Thursday.
Insider activity shows sales, such as SVP Xiaotong Zhu offloading 20,000 shares on September 11 at $363.75 for $7,275,000, and CFO Vaibhav Taneja selling 2,606 shares on September 8 at $352.38 for $918,302. Over the last 90 days, insiders sold 202,606 shares worth $75,588,902, holding 19.90 percent of the company.
Tesla designs, manufactures, and sells electric vehicles and energy systems globally, operating in automotive and energy segments.