Tesla, Inc. $TSLA Shares Acquired by Econ Financial Services Corp

Key Points

• Econ Financial Services Corp increased its Tesla stake by 26.8% in the first quarter, buying 1,795 additional shares and bringing its total to 8,504 shares worth about $3.16 million.
• Insider selling continued, with director Kathleen Wilson-Thompson and CFO Vaibhav Taneja both selling shares in recent transactions. Over the last 90 days, Tesla insiders have sold 32,015 shares valued at $12.38 million.
• Tesla remains a highly watched stock: it reported Q1 EPS of $0.41, above estimates, but revenue missed expectations, while analysts currently rate the shares a “Hold” on average with a consensus target price of $403.07.

Econ Financial Services Corp lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,504 shares of the electric vehicle producer's stock after purchasing an additional 1,795 shares during the period. Tesla comprises approximately 1.5% of Econ Financial Services Corp's holdings, making the stock its 26th biggest holding. Econ Financial Services Corp's holdings in Tesla were worth $3,161,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TSLA. Crestwood Advisors Group LLC boosted its holdings 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 acquiring an additional 5,039 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Tesla by 29.6% during the third quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer's stock worth $14,487,000 after acquiring an additional 7,446 shares during the last quarter. Calamos Wealth Management LLC increased its stake in Tesla by 5.9% during the fourth quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer's stock worth $18,846,000 after acquiring an additional 2,341 shares during the last quarter. Private Capital Advisors Inc. raised its holdings in shares of Tesla by 139.3% in the 4th 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 acquired a new position in shares of Tesla in the 4th quarter valued at about $1,035,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company's stock in a transaction dated 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 completion of the transaction, the director directly owned 48,399 shares of the company's stock, valued at $18,300,145.89. This represents a 35.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the sale, the chief financial officer directly owned 22,039 shares in the company, valued at approximately $8,864,085.80. The trade was a 10.57% 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. Over the last ninety days, insiders have sold 32,015 shares of company stock valued at $12,383,640. Company insiders own 19.90% of the company's stock.

Tesla News Summary

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 Stock Performance

Tesla stock opened at $379.71 on Monday. The firm has a market capitalization of $1.43 trillion, a PE ratio of 348.36, a price-to-earnings-growth ratio of 15.18 and a beta of 1.80. Tesla, Inc. has a one year low of $288.77 and a one year high of $498.83. The stock's 50 day moving average price is $405.62 and its 200 day moving average price is $412.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 company 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%. Tesla's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 1.19 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Oppenheimer reissued a "market perform" rating on shares of Tesla in a research report on Thursday, June 11th. DZ Bank raised shares of Tesla from a "sell" rating to a "hold" rating and set a $385.00 price target on the stock in a research report on Friday, April 24th. Sanford C. Bernstein upgraded shares of Tesla from an "underperform" rating to an "outperform" rating in a research note on Friday, June 5th. Barclays reissued a "neutral" rating on shares of Tesla in a research report on Wednesday, May 13th. Finally, Erste Group Bank raised shares of Tesla from a "sell" rating to a "hold" rating in a research note on Friday, June 5th. Twenty-one investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $403.07.

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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