waypoint wealth counsel Sells 1,619 Shares of Tesla, Inc. $TSLA

Key Points

• Waypoint Wealth Counsel cut its Tesla stake by 46.6% in Q1, selling 1,619 shares and leaving it with 1,857 shares valued at about $690,000.
• Tesla’s recent catalysts are centered on self-driving and deliveries, with enthusiasm rising after its FSD V14 Lite rollout and Morgan Stanley lifting Q2 delivery expectations on stronger Europe and China demand.
• Despite the upbeat news flow, Tesla still faces skepticism on autonomy and valuation, while insiders have also been selling shares and analysts are split, with the stock carrying a consensus Hold rating.

waypoint wealth counsel trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 46.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,857 shares of the electric vehicle producer's stock after selling 1,619 shares during the quarter. waypoint wealth counsel's holdings in Tesla were worth $690,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock worth $116,443,762,000 after buying an additional 6,538,720 shares during the last quarter. State Street Corp grew its holdings 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 valued at $51,647,164,000 after buying an additional 1,080,085 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $29,426,070,000 after buying an additional 375,946 shares during the last quarter. Capital World Investors increased its position in shares of Tesla by 5.8% during the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer's stock worth $19,583,547,000 after acquiring an additional 2,403,019 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Tesla in the 4th quarter worth about $17,128,100,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Key Tesla News

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 Performance

TSLA stock opened at $411.84 on Tuesday. The firm has a market cap of $1.55 trillion, a PE ratio of 377.83, a P/E/G ratio of 15.18 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average of $406.07 and a 200-day moving average of $412.75. 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 issued its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 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 business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the company posted $0.27 earnings per share. Tesla's quarterly revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts expect that Tesla, Inc. will post 1.19 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction 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 $8,864,085.80. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 business's 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 completion of the transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 32,015 shares of company stock valued at $12,383,640. Insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. China Renaissance cut their price target on Tesla from $382.00 to $372.00 and set a "hold" rating for the company in a research note on Monday, April 27th. DZ Bank upgraded Tesla from a "sell" rating to a "hold" rating and set a $385.00 target price on the stock in a report on Friday, April 24th. The Goldman Sachs Group began coverage on Tesla in a research report on Friday, June 5th. They set a "buy" rating on the stock. Piper Sandler reiterated an "overweight" rating on shares of Tesla in a report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating on shares of Tesla in a research report on Wednesday, June 24th. Twenty-one research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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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