First National Trust Co Sells 1,207 Shares of Tesla, Inc. $TSLA

Key Points

• First National Trust Co reduced its Tesla stake by 3.2% in the fourth quarter, selling 1,207 shares and ending with 36,538 shares valued at about $16.4 million.
• Insider selling has continued, including major transactions by Director Kathleen Wilson-Thompson and CFO Vaibhav Taneja; insiders sold 83,213 shares worth about $32.2 million over the last 90 days.
• Wall Street remains cautious overall on Tesla, with a consensus “Hold” rating and average target price of $395.20, even as the company recently beat earnings estimates and reported 15.8% revenue growth year over year.

First National Trust Co cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,538 shares of the electric vehicle producer's stock after selling 1,207 shares during the quarter. First National Trust Co's holdings in Tesla were worth $16,432,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Networth Advisors LLC acquired a new stake in shares of Tesla during the fourth quarter worth $26,000. Davidson Capital Management Inc. increased its position in shares of Tesla by 79.4% during the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 27 shares during the period. Turning Point Benefit Group Inc. acquired a new stake in shares of Tesla during the third quarter worth $30,000. Prism Advisors Inc. acquired a new stake in shares of Tesla during the fourth quarter worth $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in shares of Tesla during the third quarter worth $31,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares of the company's stock, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares in the company, valued at $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 83,213 shares of company stock worth $32,201,105 over the last ninety days. Insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Benchmark reiterated a "buy" rating on shares of Tesla in a research report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Tesla in a research note on Monday, April 27th. Wells Fargo & Company cut their target price on shares of Tesla from $130.00 to $125.00 and set an "underweight" rating on the stock in a research note on Thursday, January 29th. Royal Bank Of Canada reissued a "buy" rating on shares of Tesla in a research note on Monday, April 27th. Finally, China Renaissance cut their target price on shares of Tesla from $382.00 to $372.00 and set a "hold" rating on the stock in a research note on Monday, April 27th. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $395.20.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Full Self-Driving rollout in China and subscription-based FSD availability in Europe bolster the case that autonomy could become a bigger growth driver. Article Title
• Positive Sentiment: Some analysts and commentators continue to frame Tesla as a robotics and AI company, with bullish chatter around Optimus and the company’s long-term pivot away from being just an automaker. Article Title
• Neutral Sentiment: SpaceX’s IPO has dominated investor attention, and while it highlights Musk’s ecosystem, the market is debating whether it will ultimately help Tesla or distract capital and attention away from TSLA. Article Title
• Negative Sentiment: Reuters reported Tesla is recalling 14,575 Model Y SUVs in the U.S. over a missing weight certification label, adding another quality-control issue to the stock’s recent concerns. Article Title
• Negative Sentiment: Several articles warn that Tesla’s valuation remains stretched and that FSD still faces execution questions, with critics saying the technology is not yet ready to justify the stock’s premium. Article Title

Tesla Stock Up 2.0%

Shares of NASDAQ TSLA opened at $426.01 on Friday. Tesla, Inc. has a 12-month low of $273.21 and a 12-month high of $498.83. The firm has a market cap of $1.60 trillion, a PE ratio of 390.83, a P/E/G ratio of 16.82 and a beta of 1.79. The company's fifty day simple moving average is $387.76 and its 200 day simple moving average is $416.91. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share 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 firm had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the firm earned $0.27 earnings per share. The business's quarterly revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

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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