Deutsche Bank AG has notably expanded its investment in Tesla, increasing its stake by 20.8% during the first quarter of 2023. The German banking institution now holds a total of 10,076,461 shares in the electric vehicle manufacturer, which represents an additional 1,733,531 shares compared to the previous quarter. This increase values Deutsche Bank’s investment at approximately $2.61 billion.
As per a report from MarketBeat, Tesla constitutes about 1% of Deutsche Bank’s overall investment portfolio, making it the firm’s 13th-largest holding. Following its most recent filing with the Securities and Exchange Commission (SEC), it is noted that Deutsche Bank owns approximately 0.31% of Tesla.
Institutional Investment Trends
Tesla shares are known for their volatility and continue to see active trading, with an average volume of 104.7 million shares. Currently, Tesla’s market capitalization stands at around $1.11 trillion, solidifying its position as the largest automaker globally.
Deutsche Bank is not alone in its increased investment in Tesla. Charles Schwab Investment Management raised its holdings in the company by 4.9% in the same quarter, resulting in ownership of over 18.17 million shares valued at $4.71 billion. Furthermore, Evolution Wealth Advisors increased its stake in Tesla by an impressive 85.7%, now owning over 13,000 shares.
Overall, institutional support for Tesla remains strong, with hedge funds and large investors collectively holding 66.2% of the company’s stock. This robust backing reflects confidence in Tesla’s future growth and market strategies.
Recent Developments and Future Prospects
Tesla has been gaining momentum lately, driven by positive developments in several key initiatives. The company’s Robotaxi business is expanding in both Austin and the Bay Area. Additionally, CEO Elon Musk has announced that the release of Full Self-Driving (FSD) version V14 is expected soon for consumers.
Moreover, Tesla’s operations in China are set to introduce the Model Y L, a six-seat extended wheelbase version of its popular vehicle, before the end of the third quarter. These advancements indicate Tesla’s commitment to innovation and its potential to capture greater market share in the electric vehicle sector.
The significant increase in Deutsche Bank’s investment and the overall institutional interest in Tesla underscore the ongoing confidence in the company’s trajectory and its ability to lead in the evolving automotive industry.
