Tesla, Inc. (NASDAQ:TSLA) Position Increased by Crossmark Global Holdings Inc.

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Crossmark Global Holdings Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,741 shares of the electric vehicle manufacturer's stock after acquiring an additional 12,919 shares during the quarter. The value of Crossmark Global Holdings Inc.'s Tesla stake was $19.1 million as of December 31, 2023, up from $16.9 million at the end of the previous quarter. Tesla has been a popular stock among institutional investors in recent months. The company's shares have outperformed the broader market in 2023, gaining more than 70%. Tesla's strong financial performance and its leadership position in the electric vehicle market have attracted investors.

Key Takeaways

* Crossmark Global Holdings Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 12.6% during the fourth quarter. * The fund owned 114,741 shares of Tesla stock after acquiring an additional 12,919 shares during the quarter. * The value of Crossmark Global Holdings Inc.'s Tesla stake was $19.1 million as of December 31, 2023.

Reasons for the Increase

There are several reasons why Crossmark Global Holdings Inc. may have increased its position in Tesla. First, Tesla is a leading player in the electric vehicle market, which is expected to grow significantly in the coming years. Second, Tesla has a strong financial track record and is profitable. Third, Tesla has a strong brand and is well-positioned to capitalize on the growing demand for electric vehicles.

Outlook

Tesla is well-positioned to continue to grow in the future. The company has a strong product lineup and is investing heavily in new technologies such as autonomous driving. Tesla also has a large and loyal customer base. As the electric vehicle market continues to grow, Tesla is likely to continue to benefit.

Conclusion

Crossmark Global Holdings Inc.'s decision to increase its position in Tesla is a sign of confidence in the company's future. Tesla is a leading player in the electric vehicle market and is well-positioned to continue to grow in the future.