Image from MarketBeat Media, LLC. Key Points Victory Capital Management trimmed its Tesla stake by 0.3% in Q3, selling 5,573 shares and now holds 1,936,986 shares worth about $861.4M, making Tesla roughly 0.5% of its portfolio and its 27th largest holding. Major institutions are actively reshaping positions—Norges Bank opened a new ~$11.84B position and Vanguard, Amundi, Jennison and Geode all added shares—leading to 66.2% institutional ownership of Tesla. Tesla trades with a market cap of $1.51 trillion and a high valuation (P/E ~373), recently beat EPS ($0.50 vs. $0.45) despite revenue down 3.1% YoY, and has an average MarketBeat rating of "Hold" with a $408.09 price target. 5 Stocks Racing Ahead as AI Supercharges Robotics Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Tesla in the second quarter worth about $11,839,824,000. Vanguard Group Inc. grew its position in Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer's stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares during the last quarter. Amundi increased its stake in Tesla by 20.4% in the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer's stock worth $6,374,284,000 after purchasing an additional 3,422,270 shares during the period. Jennison Associates LLC lifted its position in Tesla by 38.3% in the third quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer's stock valued at $4,851,747,000 after purchasing an additional 3,021,550 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Tesla by 2.0% during the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer's stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares during the period. 66.20% of the stock is owned by institutional investors. Get Tesla alerts: