J. L. Bainbridge & Co. Inc. Cuts Stock Holdings in Tesla, Inc. $TSLA

Key Points

• J. L. Bainbridge & Co. cut its Tesla stake by 49.7% in the first quarter, ending with 2,221 shares valued at about $826,000 after selling 2,191 shares.
• Analyst sentiment on Tesla remains mixed: the stock’s consensus rating is currently Hold, with an average price target of $403.07 despite several firms maintaining bullish outlooks.
• Tesla insiders have also been selling shares, including director Kathleen Wilson-Thompson and CFO Vaibhav Taneja, while the company continues to draw attention from new FSD software updates and upcoming quarterly delivery figures.

J. L. Bainbridge & Co. Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 49.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,221 shares of the electric vehicle producer's stock after selling 2,191 shares during the period. J. L. Bainbridge & Co. Inc.'s holdings in Tesla were worth $826,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares in the last quarter. State Street Corp grew its position in shares of Tesla by 0.9% during the fourth quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer's stock worth $51,647,164,000 after buying an additional 1,080,085 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tesla by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer's stock worth $29,426,070,000 after buying an additional 375,946 shares during the period. Capital World Investors raised its holdings in Tesla by 5.8% in the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer's stock valued at $19,583,547,000 after acquiring an additional 2,403,019 shares in the last quarter. Finally, Norges Bank purchased a new position in Tesla in the fourth quarter worth approximately $17,128,100,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on TSLA shares. Bank of America began coverage on shares of Tesla in a report on Wednesday, March 4th. They set a "buy" rating and a $460.00 price target for the company. Mizuho decreased their price objective on shares of Tesla from $540.00 to $480.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Erste Group Bank upgraded shares of Tesla from a "sell" rating to a "hold" rating in a research note on Friday, June 5th. President Capital increased their target price on Tesla from $424.00 to $428.00 and gave the company a "buy" rating in a report on Monday, April 27th. Finally, Tigress Financial began coverage on Tesla in a report on Monday, April 27th. They set a "buy" rating for the company. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $403.07.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction dated Thursday, April 30th. The stock was 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 in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the sale, the chief financial officer directly owned 18,106 shares of the company's stock, valued at approximately $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 32,015 shares of company stock valued at $12,383,640 in the last 90 days. 19.90% of the stock is currently owned by insiders.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s FSD V14 Lite rollout and software boost for older cars renewed enthusiasm around its self-driving and robotaxi prospects. Tesla's stock rips higher after a long-awaited update to self-driving technology
• Positive Sentiment: Strong pre-delivery optimism continues, with Morgan Stanley raising its Q2 delivery estimate on better Europe and China trends. Morgan Stanley Lifts Tesla Delivery Forecast on Stronger Europe and China Demand (TSLA)
• Positive Sentiment: Bullish sector sentiment and a tech rebound lifted EV stocks broadly, adding momentum to TSLA. TSLA, LCID, RIVN: Here’s Why EV Stocks Are Surging Today
• Neutral Sentiment: Investors are awaiting Tesla’s Q2 delivery report, which remains a key near-term catalyst. Tesla Reports Q2 Deliveries in a Matter of Days. Here's the Number That Matters.
• Negative Sentiment: Some analysts still say Tesla’s valuation depends on much higher FSD performance, showing continued skepticism around autonomy timelines. Tesla Stock (TSLA) Won’t Beat the Nasdaq Until FSD Hits 99.99%, Analyst Warns

Tesla Stock Up 8.5%

TSLA stock opened at $411.84 on Tuesday. The stock has a market cap of $1.55 trillion, a P/E ratio of 377.83, a PEG ratio of 15.18 and a beta of 1.80. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a twelve month low of $288.77 and a twelve month high of $498.83. The company's 50 day moving average is $406.07 and its two-hundred day moving average is $412.75.

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

Tesla 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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