Tesla, Inc. $TSLA Shares Sold by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA cut its Tesla stake by 21.3% in the first quarter, selling 2,425 shares and leaving it with 8,967 shares valued at about $3.33 million.
• Several institutional investors and large funds remain heavily invested in Tesla, with institutions owning 66.2% of the stock overall despite some recent trimming by specific holders.
• Insiders have also been selling: Director Kathleen Wilson-Thompson and CFO Vaibhav Taneja both reduced their holdings, while analysts currently rate Tesla as a consensus "Hold" with an average price target of $403.07.

Union Bancaire Privee UBP SA lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,967 shares of the electric vehicle producer's stock after selling 2,425 shares during the period. Union Bancaire Privee UBP SA's holdings in Tesla were worth $3,333,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Tesla during the fourth quarter worth $17,128,100,000. Corient Private Wealth LLC raised its holdings in shares of Tesla by 3,205.5% during the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer's stock worth $9,650,811,000 after purchasing an additional 20,810,386 shares during the period. Bank of America Corp DE lifted its position in shares of Tesla by 56.0% in the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer's stock worth $9,334,211,000 after buying an additional 7,450,766 shares during the last quarter. Cardano Risk Management B.V. lifted its position in shares of Tesla by 882.8% in the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer's stock worth $3,688,630,000 after buying an additional 7,367,507 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 6,538,720 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, 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 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. Over the last 90 days, insiders have sold 32,015 shares of company stock worth $12,383,640. Company insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSLA shares. Robert W. Baird dropped their price objective on shares of Tesla from $538.00 to $522.00 and set an "outperform" rating on the stock in a research note on Friday, April 24th. Roth Mkm reaffirmed a "buy" rating on shares of Tesla in a report on Thursday, April 23rd. Truist Financial cut their price target on Tesla from $438.00 to $400.00 and set a "hold" rating on the stock in a report on Thursday, April 2nd. Evercore upgraded Tesla from a "hold" rating to an "outperform" rating in a research note on Friday, June 5th. Finally, Barclays reaffirmed a "neutral" rating on shares of Tesla in a research report on Wednesday, May 13th. Twenty-one investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and a consensus price target of $403.07.

Key Headlines Impacting Tesla

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 Price Performance

TSLA opened at $379.71 on Monday. 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 current ratio of 2.04 and a quick ratio of 1.62. The stock has a market cap of $1.43 trillion, a P/E ratio of 348.36, a P/E/G ratio of 15.18 and a beta of 1.80. Tesla, Inc. has a 12 month low of $288.77 and a 12 month high of $498.83.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm's quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.19 earnings per share for the current 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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