Recent data suggests that institutional investors are highly confident in Tesla (TSLA) stock. As of November 11, 2024, institutional investors own around 66.2% of Tesla’s outstanding shares.
According to Guru Focus, several major institutional investors have increased their TSLA holdings over the past year.
In the first quarter, Vanguard Group Inc. boosted its Tesla stake by 1.7%, and now holds 233.6 million shares valued at approximately $41.06 billion.
Strategic Financial Concepts LLC is another institutional investor that significantly increased its Tesla position.
The firm grew its TSLA holdings by 21,816% in the second quarter and now owns 5.9 million shares worth $1.17 billion.
Long-time Tesla bull ARK Invest also added to its position, increasing its stake by 2.6% in the second quarter.
ARK believes Tesla could be worth $2,600 per share by 2029, driven in part by the company’s anticipated robotaxi services.
Further solidifying their long-term conviction, Vanguard purchased an additional 3.8 million Tesla shares in Q3 2023.
Similarly, International Assets Investment Management LLC raised its TSLA stake by an astounding 35,611.2% in the third quarter and now holds 11.05 million shares valued at $2.89 billion.
Tesla’s stock price surged after Donald Trump secured a second term as President of the United States in 2024. Following the election, Tesla rejoined the elite group of trillion-dollar companies.
The consistent increase in institutional ownership and bullish sentiment from major investors suggests they have strong confidence in Tesla’s long-term prospects.
