Evolve Private Wealth LLC Sells 9,626 Shares of Tesla, Inc. $TSLA

Key Points

• Evolve Private Wealth LLC cut its Tesla stake by 25.6% in the first quarter, selling 9,626 shares and leaving it with 27,926 shares valued at about $10.38 million.
• Tesla reported quarterly earnings of $0.41 per share, topping estimates, while revenue came in at $22.39 billion, slightly below expectations but still up 15.8% year over year.
• Analyst sentiment remains mixed: several firms adjusted ratings and targets, and MarketBeat shows Tesla with a consensus Hold rating and a price target near $405.06.

Evolve Private Wealth LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,926 shares of the electric vehicle producer's stock after selling 9,626 shares during the quarter. Tesla accounts for approximately 0.6% of Evolve Private Wealth LLC's investment portfolio, making the stock its 28th biggest holding. Evolve Private Wealth LLC's holdings in Tesla were worth $10,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Networth Advisors LLC bought a new stake in Tesla during the fourth quarter worth $26,000. Chapman Financial Group LLC purchased a new position in Tesla in the second quarter worth $26,000. Davidson Capital Management Inc. grew its stake in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 27 shares during the period. Prism Advisors Inc. purchased a new stake in shares of Tesla during the 4th quarter valued at $30,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

NASDAQ TSLA opened at $405.05 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.52 trillion, a PE ratio of 371.61, a price-to-earnings-growth ratio of 16.01 and a beta of 1.80. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The firm's 50-day simple moving average is $404.52 and its two-hundred day simple moving average is $414.98.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company's revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. Research analysts predict that Tesla, Inc. will post 1.19 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial cut their price target on shares of Tesla from $438.00 to $400.00 and set a "hold" rating on the stock in a report on Thursday, April 2nd. Evercore upgraded shares of Tesla from a "hold" rating to an "outperform" rating in a report on Friday, June 5th. Piper Sandler reaffirmed an "overweight" rating on shares of Tesla in a research report on Wednesday, June 10th. Sanford C. Bernstein upgraded shares of Tesla from an "underperform" rating to an "outperform" rating in a research note on Friday, June 5th. Finally, Roth Mkm reissued a "buy" rating on shares of Tesla in a research report on Thursday, April 23rd. Twenty-one analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $405.06.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director owned 48,399 shares of the company's stock, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. This represents a 14.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 57,824 shares of company stock valued at $21,657,588 over the last quarter. 19.90% of the stock is owned by company insiders.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s new “Megapod” trademark filing is being viewed as a possible move into AI data-center hardware, reinforcing the bull case that TSLA could benefit from high-growth AI infrastructure opportunities. Tesla Shares Surge After Megapod Trademark Filing
• Positive Sentiment: Reports that Tesla’s Semi is generating strong interest and showing encouraging results suggest another potential growth avenue outside the core passenger EV business. A Little Good News for Tesla's Big Forgotten Product
• Neutral Sentiment: Analyst commentary today was mixed: Jefferies kept a Hold/Neutral view and raised its price target, signaling Tesla still has supporters but also limited near-term upside at current levels. Jefferies adjusts price target on Tesla
• Neutral Sentiment: Broader market coverage noted Tesla was outperforming a weak market as investors looked past the SpaceX pullback and stayed focused on Tesla’s long-term AI narrative. Why Tesla stock is beating the broader market today
• Negative Sentiment: Federal regulators opened a new investigation into a fatal Texas crash involving a Tesla Model 3, after the driver said Autopilot was active; that raises fresh safety, legal, and reputational risks for TSLA’s self-driving business. Tesla faces federal probe after Model 3 slams into Texas home
• Negative Sentiment: Additional coverage of the crash and the related federal probe keeps pressure on Tesla’s Autopilot/FSD credibility and could weigh on sentiment if the investigation expands. Tesla pushes back on Autopilot narrative after fatal Texas crash

About Tesla

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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