Tesla (TSLA) stock is on the mend over the last month, rebounding 16% after a horrid start to the year. Despite the slump TSLA faced in the opening month of 2025, investors still appear interested in the stock. Among those institutions still interested in Tesla stock is BlackRock, which added another 3 million+ shares to its current holdings in Q1 2025.
Indeed, the largest asset manager has now increased its stake in Tesla (TSLA) for 23 consecutive quarters. The streak dates back to the third quarter of 2019. The BlackRock firm now holds a record 205,668,592 shares as of March 31. Additionally, its most significant purchase came in the third quarter of 2022. Then, BlackRock increased its position by over 210%, adding approximately 116.5 million shares.
Tesla has received a healthy boost from investors like BlackRock as of late, helping keep its shares from further tanking. Year-to-date, Tesla stock is down a whopping 30%. Furthermore, the company’s earnings were no better. Tesla’s net income plummeted 81% from a year ago, with earnings per share and net profit margin both falling 65% and 61%, respectively. Still, Tesla manages to sit at $280, thanks to its recent pickup in the last weeks of April.
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The big catalyst for Tesla stock’s rebound has been the announced return of Elon Musk. Indeed, the CEO announced he would be taking a step back from his position at the head of the US President Trump’s DOGE commission. In turn, he would be spending more time leading Tesla.
That could play a key role in defining where it goes next. The stock holds a median price target of $307, up 9% from its current position. However, its high-risk, high-reward sentiment comes from the extremes. Its bull case projection sits at $470, representing 67% upside. Meanwhile, its bear case is a fall to $115, showcasing a 59% downside risk for the stock.