George Soros on Tesla
Renowned investor George Soros’ family office, Soros Fund Management recently sold its entire stake in Tesla during the first quarter of the year. The move came after gradually increasing its holdings of the electric vehicle (EV) giant’s stock in the previous year, potentially allowing the fund to capitalize on significant gains from Tesla’s impressive stock-market rebound.
According to a 13F filing published on Friday, Soros Fund Management had been steadily accumulating shares of Tesla throughout the second quarter of 2022. By the end of the year, the fund held approximately 132,000 shares. However, during the first quarter of this year, the entire position was liquidated, indicating a strategic move to take profits and exit the investment. The timing of the sale coincided with Tesla’s stock surge in the first quarter, driven by a broader rally in the technology sector.
Tesla shares experienced a remarkable surge of 68% in the first quarter, largely propelled by a rally in the technology sector. This was bolstered by expectations that cooling inflation would prompt the Federal Reserve to halt its interest-rate increases. Tesla’s stock has moderated its advance and is currently up approximately 37% year-to-date.
In addition to exiting its position in Tesla, Soros Fund Management also reduced its holdings in electric-vehicle startup Rivian Automotive. By the end of the first quarter, the fund held 3.58 million shares of Rivian. These adjustments in EV-related holdings indicate a reevaluation of Soros’ investment strategy within the rapidly evolving electric vehicle industry.
Soros Fund Management capitalized on Tesla’s massive stock rebound by selling its entire stake during the first quarter of the year. The move likely allowed the fund to realize significant gains from the surge in Tesla’s stock price.
TSLA Forecast & Analysis
According to analysis from 48 analysts, the average target price for Tesla Inc over the next 12 months is USD 203.81. This implies a potential increase in the stock price from its current level. However, it is important to note that these forecasts are subjective opinions and should be evaluated alongside other factors.
The average analyst rating for Tesla Inc is “Buy,” indicating a positive sentiment among analysts regarding the stock’s performance. This rating suggests that analysts believe Tesla Inc has the potential for future growth and recommend investors consider buying shares.
Stock Target Advisor’s analysis suggests a slightly bullish outlook based on the evaluation of various signals. Out of the signals analyzed, ten were positive, while five were negative. This assessment provides additional insights for investors to consider.
As of the last closing, Tesla Inc’s stock price was USD 166.35. Over the past week, the stock price has experienced a decline of -3.17%. Looking at a broader timeframe, the stock price has decreased by -10.08% over the past month and significantly declined by -35.15% over the last year. These figures highlight the volatility and challenges Tesla Inc’s stock has faced in recent times.