Tesla, Inc. $TSLA Shares Sold by RKL Wealth Management LLC

Key Points

• RKL Wealth Management LLC reduced its Tesla stake by 14.2% in the first quarter, selling 1,493 shares and leaving it with 9,007 shares valued at about $3.35 million.
• Tesla continues to draw mixed sentiment: analysts now have a Hold consensus with an average price target of $403.07, even as the stock trades around $425 and recent FSD progress and delivery expectations support the bullish case.
• The company faces both positive demand signals and new headwinds, including stronger European registrations and optimism for Q2 deliveries, but also bearish headlines from Michael Burry’s short position and increased competition from rivals like BYD.

RKL Wealth Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,007 shares of the electric vehicle producer's stock after selling 1,493 shares during the quarter. RKL Wealth Management LLC's holdings in Tesla were worth $3,348,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TSLA. Networth Advisors LLC acquired a new stake in shares of Tesla in the 4th quarter worth $26,000. Chapman Financial Group LLC acquired a new position in shares of Tesla during the second quarter worth about $26,000. Davidson Capital Management Inc. raised its holdings in 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 purchasing an additional 27 shares in the last quarter. Friedenthal Financial raised its holdings in Tesla by 66.7% during the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 30 shares in the last quarter. Finally, Prism Advisors Inc. acquired a new stake in Tesla in the fourth quarter valued at about $30,000. 66.20% of the stock is owned by institutional investors and hedge funds.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla began rolling out a long-awaited FSD v14 Lite update, seen as meaningful progress for its autonomy thesis and a positive proof point for the company’s software-led growth narrative. Tesla Stock Surges 15% as FSD Update Backs Its Autonomy Thesis
• Positive Sentiment: Investors are positioning ahead of Tesla’s Q2 delivery release, with analysts expecting a rebound and stronger overseas demand, especially in Europe, supporting expectations for a solid print. Tesla Q2 Deliveries Due Later This Week. Stock Gains On Newest FSD Update.
• Positive Sentiment: European registrations climbed in June, reinforcing the view that international demand is offsetting weakness in the U.S. market and could help Tesla beat delivery expectations. Tesla European registrations climb in June
• Neutral Sentiment: Retail-trader enthusiasm remains high, with Tesla’s price crossing a “meme” level that could attract more speculative buying, but this is more of a trading catalyst than a fundamental change. Tesla (TSLA) Retail Traders May Get Fired Up as Stock Crosses $420
• Negative Sentiment: Michael Burry disclosed new short positions against Tesla, adding a high-profile bearish headline that reinforces concerns about valuation and execution risk. ‘Big Short’ Investor Michael Burry Reveals Tesla, Nvidia Shorts, Says Chip Boom Is ‘Beginning of the End’
• Negative Sentiment: California’s new EV incentives appear to favor Tesla rivals like Rivian and Lucid, potentially pressuring Tesla’s U.S. demand outlook at the margin. California vs. Elon Musk: Tesla Snubbed as New EV Incentives Boost Rivian, Lucid
• Negative Sentiment: BYD’s continued recovery and expanding global sales raise competitive pressure, reviving concerns that Tesla could lose ground in the global EV race. Tesla Stock (TSLA) Falls as Archrival BYD Extends Sales Recovery

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Guggenheim began coverage on Tesla in a research report on Monday. They set a "neutral" rating on the stock. Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a report on Thursday, June 11th. BNP Paribas Exane downgraded Tesla from a "hold" rating to an "underperform" rating in a report on Friday, June 5th. HSBC reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Tesla in a report on Tuesday. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla has a consensus rating of "Hold" and an average price target of $403.07.

Tesla Stock Up 1.1%

TSLA opened at $425.30 on Thursday. 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 company has a market cap of $1.60 trillion, a price-to-earnings ratio of 390.18, a PEG ratio of 16.72 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 business's fifty day moving average is $407.13 and its two-hundred day moving average is $412.38.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $22.39 billion during the quarter, compared to analysts' expectations of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. Analysts anticipate that Tesla, Inc. will post 1.2 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction that occurred 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 sale, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This represents 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 available through the SEC website. 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 that occurred on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 32,015 shares of company stock valued at $12,383,640 over the last 90 days. 19.90% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.