Legacy Capital Group California Inc. Sells 2,492 Shares of Tesla, Inc. $TSLA

Key Points

• Legacy Capital Group California Inc. cut its Tesla stake by 59.9% in Q1, selling 2,492 shares and ending with 1,668 shares valued at about $620,000.
• Tesla’s stock opened at $396.10 and remains highly valued, with a market cap of $1.49 trillion and a lofty P/E ratio of 363.39.
• The company beat quarterly EPS expectations in its latest report, while analyst sentiment remains mixed: many rate the stock Hold, though several have recently raised price targets.

Legacy Capital Group California Inc. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 59.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,668 shares of the electric vehicle producer's stock after selling 2,492 shares during the quarter. Legacy Capital Group California Inc.'s holdings in Tesla were worth $620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Networth Advisors LLC acquired a new stake in Tesla during the 4th quarter valued at $26,000. Davidson Capital Management Inc. boosted its stake in Tesla by 79.4% in the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new position in Tesla in the third quarter worth $30,000. Prism Advisors Inc. bought a new stake in shares of Tesla during the fourth quarter worth $30,000. Finally, Texas Capital Bancshares Inc TX bought 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.

Tesla Price Performance

Shares of TSLA opened at $396.10 on Wednesday. The stock has a 50 day simple moving average of $410.86 and a 200 day simple moving average of $407.41. Tesla, Inc. has a 52-week low of $297.82 and a 52-week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The firm has a market capitalization of $1.49 trillion, a PE ratio of 363.39, a P/E/G ratio of 14.46 and a beta of 1.80.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $22.96 billion. During the same period last year, the company posted $0.27 EPS. The business's quarterly revenue was up 15.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 1.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. Evercore raised Tesla from a "hold" rating to an "outperform" rating in a report on Friday, June 5th. Cantor Fitzgerald reissued an "overweight" rating on shares of Tesla in a report on Monday, June 1st. UBS Group upped their target price on shares of Tesla from $364.00 to $442.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Jefferies Financial Group set a $400.00 target price on shares of Tesla and gave the stock a "hold" rating in a report on Monday. Finally, Truist Financial lifted their price target on shares of Tesla from $400.00 to $430.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Twenty-one investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Tesla has an average rating of "Hold" and an average target price of $408.07.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the transaction, the chief financial officer directly owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 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 transaction, the director 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,015 shares of company stock valued at $12,383,640 in the last three months. 19.90% of the stock is owned by insiders.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Wall Street raised Tesla price targets ahead of earnings, with Morgan Stanley, Barclays, and Jefferies all lifting views and pointing to stronger auto and energy deliveries plus improving Q2 setup. Tesla's Strong Auto, Energy Deliveries Position it for Solid Q2, Morgan Stanley Says
• Positive Sentiment: Tesla posted its best quarter in two years on deliveries, beating expectations by a wide margin and reinforcing the view that Q2 fundamentals may be improving. Elon Musk's Tesla Posts Best Quarter in Two Years
• Positive Sentiment: Investor focus on Tesla’s robotaxi and robotics story remains a source of optimism, with articles highlighting a potential autonomous vehicle catalyst and a broader pivot toward robots and AI. A Purpose-Built, Wheelchair-Accessible Autonomous Vehicle Gives Tesla Stock NASDAQ: TSLA a Boost
• Neutral Sentiment: Some coverage remains cautious, noting Tesla is still trading at a demanding valuation and that analysts are not uniformly bullish despite the higher targets. Three Price Target Boosts Can’t Help Tesla Stock
• Neutral Sentiment: Recent commentary also flagged that Tesla’s robotaxi rollout and AI narrative still need clearer proof points, which could limit near-term upside if investors want more concrete execution. Musk hailed Tesla robotaxis in Texas as the start of a nationwide march. But actually hailing one isn't easy
• Negative Sentiment: Tesla still faces competitive pressure and market skepticism, including concerns about rivals narrowing the autonomous-driving gap and earlier weakness tied to slower AI progress. Tesla Stock (TSLA) Takes a Battering as Chinese Rival XPeng Declares it is Ready to Go Head-to-Head

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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