Fiduciary Alliance LLC Sells 3,007 Shares of Tesla, Inc. $TSLA

Key Points

• Fiduciary Alliance LLC reduced its Tesla stake by 9.1% in Q1, selling 3,007 shares and ending with 30,199 shares valued at about $11.8 million.
• Other institutional investors were mixed on Tesla, with several funds increasing positions while others cut holdings; overall, 66.2% of Tesla stock is owned by institutions and hedge funds.
• Wall Street sentiment remains divided: Tesla has a consensus Hold rating with an average target price of $403.07, even as there are more Buy ratings than Sell ratings.

Fiduciary Alliance LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,199 shares of the electric vehicle producer's stock after selling 3,007 shares during the period. Tesla accounts for about 0.7% of Fiduciary Alliance LLC's portfolio, making the stock its 29th biggest holding. Fiduciary Alliance LLC's holdings in Tesla were worth $11,836,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Crestwood Advisors Group LLC increased its stake in Tesla by 34.7% in the fourth quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer's stock valued at $8,799,000 after purchasing an additional 5,039 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Tesla by 29.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer's stock worth $14,487,000 after buying an additional 7,446 shares during the period. Calamos Wealth Management LLC increased its holdings in shares of Tesla by 5.9% during the fourth quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer's stock valued at $18,846,000 after acquiring an additional 2,341 shares in the last quarter. Private Capital Advisors Inc. raised its position in shares of Tesla by 139.3% during the fourth quarter. Private Capital Advisors Inc. now owns 21,331 shares of the electric vehicle producer's stock worth $9,593,000 after purchasing an additional 12,417 shares during the period. Finally, Wealthquest Corp bought a new position in shares of Tesla in the 4th quarter worth $1,035,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed a "buy" rating on shares of Tesla in a research report on Monday, April 27th. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a research report on Thursday, June 11th. Phillip Securities reduced their target price on Tesla from $220.00 to $215.00 and set a "sell" rating on the stock in a research note on Wednesday, May 13th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tesla in a research note on Friday, April 24th. Twenty-one research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $403.07.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer directly owned 22,039 shares in the company, valued at $8,864,085.80. This represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares of the company's stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 57,824 shares of company stock valued at $21,657,588. Company insiders own 19.90% of the company's stock.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Analysts remained constructive on Tesla’s longer-term growth story, with one Seeking Alpha piece upgrading the stock and arguing that two previously speculative “moonshots” are becoming medium-term catalysts. Tesla: 2 Moonshots Have Now Become Medium-Term Catalysts (Rating Upgrade)
• Positive Sentiment: Tesla announced expansion plans in Germany, including higher production at Gigafactory Berlin, which supports the narrative that demand is improving in Europe. Tesla Expands Production In Germany, As VW Cuts 100,000 Jobs
• Positive Sentiment: Tesla also benefited from headlines around its energy business, including a major 16-gigawatt power partnership with Sunrun and Renew Home that could strengthen Tesla Energy’s growth profile. Tesla (TSLA) Lands 16 Gigawatt U.S. Power Plant Deal And 25 Gigawatt Hour Europe Pact
• Neutral Sentiment: Elon Musk’s teaser about a highly advanced next-generation Roadster and other futuristic ambitions may support the long-term story, but it is not an immediate fundamental catalyst. Elon Musk Teases Flying Tesla Roadster With Crazy Tech
• Negative Sentiment: Tesla is facing renewed federal scrutiny after a fatal Model 3 crash, including an NHTSA probe and a separate NTSB investigation, which raises fresh concerns about Full Self-Driving safety. Tesla Under Fresh Scrutiny After Model 3 Crashes Into Home, Killing Woman
• Negative Sentiment: Tesla also settled a lawsuit tied to a fatal Full Self-Driving crash while federal investigations continue, reinforcing investor worries about legal liability and autonomy risk. Tesla settles FSD crash lawsuit as federal investigations continue
• Negative Sentiment: Several market commentaries argued that Tesla remains expensive relative to its current fundamentals, with valuation skepticism and underperformance concerns weighing on sentiment. Tesla Stock Is Having a Bad Week and an Even Worse Month

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $379.71 on Friday. The company has a market capitalization of $1.43 trillion, a P/E ratio of 348.36, a P/E/G ratio of 14.99 and a beta of 1.80. Tesla, Inc. has a 1-year low of $288.77 and a 1-year high of $498.83. The firm's 50 day simple moving average is $405.62 and its two-hundred day simple moving average is $413.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62.

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

Tesla Company Profile

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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