Fri Sep 20 13:39:53 UTC 2024: ## Tesla Stock Sees Increased Interest from Institutional Investors
**New York, NY – September 20, 2024** – Several institutional investors have increased their holdings in Tesla, Inc. (NASDAQ:TSLA) during recent quarters, indicating growing confidence in the electric vehicle giant.
Bradley Foster & Sargent Inc. CT boosted its position in Tesla by 36.4% during the second quarter, owning 2,797 shares worth $554,000. Other notable investors who increased their positions include DDFG Inc., Vantage Financial Partners LLC, Gilbert & Cook Inc., 9258 Wealth Management LLC, and Rollins Financial.
This trend of increased institutional interest comes despite Tesla missing analysts’ earnings expectations in the second quarter. The company reported $0.52 earnings per share, falling short of the estimated $0.62.
However, the company’s revenue reached $25.50 billion, surpassing the consensus estimate of $24.38 billion. Despite the missed earnings target, Tesla’s revenue growth suggests continued strong demand for its electric vehicles.
While some analysts remain cautious, with UBS Group downgrading Tesla to a “sell” rating, others maintain a positive outlook. Piper Sandler reaffirmed an “overweight” rating, and Canaccord Genuity Group reiterated a “buy” rating. Overall, the stock currently holds a “Hold” rating from analysts with a consensus price target of $209.60.
Despite the recent volatility, Tesla remains a significant player in the electric vehicle market, and its future performance will be closely watched.
First Piper 