Roth MKM Boosts Tesla (SNSE:TSLACL) Rating

Published On: December 3, 2024 3:35 am

Tesla Stock Upgraded: What Investors Should Know

On December 2, 2024, Fintel reported that Roth MKM raised their outlook for Tesla (SNSE:TSLACL) from Neutral to Buy.

Investor Interest Grows

Currently, there are 4,449 funds or institutions owning shares in Tesla. This marks an increase of 271 owners, or 6.49%, from the previous quarter. The average investment in Tesla by these funds is now -10.78%, a significant rise of 1,337.47%. In the last three months, total institutional shares owned grew by 0.58%, totaling 1,661,032K shares.

Key Shareholders Increase Their Stakes

CL:TSLACL / Tesla, Inc. Shares Held by Institutions

The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 86,079K shares, reflecting 2.68% ownership. This is an increase from 85,652K shares reported previously, showing a growth of 0.50%. VTSMX also raised its allocation in TSLACL by 24.80% over the last quarter.

The Vanguard 500 Index Fund Investor Shares (VFINX) holds 72,667K shares, or 2.26% of the company. Their previous filing noted 71,212K shares, an increase of 2.00%. They also boosted their allocation in TSLACL by 24.16% in the same period.

Geode Capital Management has 59,356K shares, accounting for 1.85% ownership. They raised their shares from 58,334K, with an increase of 1.72% but decreased their portfolio allocation in TSLACL by 35.03% last quarter.

Capital World Investors owns 42,813K shares, representing 1.33% ownership. This is a modest rise from their previous count of 42,709K shares, reflecting a 0.24% increase. Their overall portfolio allocation in TSLACL grew by 26.01% over the last quarter.

Finally, the Invesco QQQ Trust, Series 1 holds 36,359K shares, equating to 1.13% ownership. They previously reported 35,997K shares, marking an increase of 1.00%, and raised their portfolio allocation in TSLACL by 30.63%.

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This story originally appeared on Fintel.

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