Wellspring Financial Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 48.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,063 shares of the electric vehicle producer’s stock after buying an additional 8,555 shares during the quarter. Tesla accounts for approximately 0.2% of Wellspring Financial Advisors LLC’s portfolio, making the stock its 29th biggest position. Wellspring Financial Advisors LLC’s holdings in Tesla were worth $11,721,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Crestwood Advisors Group LLC raised its holdings in shares of Tesla by 34.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer’s stock worth $8,799,000 after acquiring an additional 5,039 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Tesla by 29.6% in the 3rd 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. China Universal Asset Management Co. Ltd. raised its holdings in shares of Tesla by 8.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer’s stock worth $21,571,000 after acquiring an additional 3,935 shares during the last quarter. Calamos Wealth Management LLC raised its holdings in shares of Tesla by 5.9% in the 4th 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. Finally, Willis Johnson & Associates Inc. raised its holdings in shares of Tesla by 21.6% in the 3rd quarter. Willis Johnson & Associates Inc. now owns 8,917 shares of the electric vehicle producer’s stock worth $3,965,000 after acquiring an additional 1,582 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.
Insider Buying and Selling
In other news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at $8,147,700. This represents a 14.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock in a transaction that occurred on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 57,824 shares of company stock valued at $21,657,588 over the last three months. Insiders own 19.90% of the company’s stock.
Key Tesla News
- Positive Sentiment: Tesla got regulatory help in Europe after Belgium approved its Full Self-Driving supervised driver-assistance software, which could support the company’s autonomy rollout narrative. Reuters: Tesla gets go-ahead to sell self-driving technology in Belgium
- Positive Sentiment: Analyst commentary remained bullish on Tesla’s self-driving and robotics potential, with Piper Sandler and JPMorgan both lifting their outlooks and price targets, suggesting Wall Street is paying more attention to Tesla’s long-term AI upside than just car sales. TipRanks: Tesla Stock Slides as Archrival BYD Sets an Ambitious Five-Year Target
- Positive Sentiment: Reports that Tesla is rolling out unsupervised robotaxis in Austin and has improving FSD safety data in Europe are reinforcing hopes for future software-driven revenue beyond vehicle sales. TipRanks: Why Tesla Stock Is Rising Today
- Positive Sentiment: China sales rebounded in May, with retail deliveries up 22.5% year over year, helping counter some of the bearish demand concerns around Tesla’s core EV business. Zacks: What Drove Tesla China’s 22.5% Y/Y Sales Growth in May?
- Neutral Sentiment: CFO Vaibhav Taneja sold shares, but the filing says the sale was to cover tax withholding on equity awards, which is usually routine rather than a negative business signal. MarketBeat: Tesla insider trades
- Neutral Sentiment: Multiple articles continue to focus on the SpaceX IPO and possible Musk-related “mega-merger” speculation, which is boosting attention on TSLA but also creating uncertainty about whether investor capital is being pulled toward the next Musk trade. Barron’s: Tesla Stock Rises. Is SpaceX Selling Pressure Over?
- Negative Sentiment: Tesla has also faced broad selling pressure tied to macro risk, Middle East tensions, and a tech-sector pullback, which weighed on the stock even as company-specific news improved. Read More.
- Negative Sentiment: Rival BYD is escalating competition in charging and EV pricing, adding pressure to Tesla’s growth and margin outlook in key markets. TipRanks: Tesla Stock Sinks as BYD Picks Up Charger Fight
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on TSLA shares. BNP Paribas Exane lowered shares of Tesla from a “hold” rating to an “underperform” rating in a report on Friday, June 5th. Barclays restated a “neutral” rating on shares of Tesla in a report on Wednesday, May 13th. Robert W. Baird reduced their price objective on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Tesla in a research report on Friday, June 5th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. raised shares of Tesla from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $145.00 to $475.00 in a research report on Friday, June 5th. Twenty-two analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $404.37.
Tesla Stock Down 3.8%
Tesla stock opened at $381.59 on Thursday. Tesla, Inc. has a twelve month low of $288.77 and a twelve month high of $498.83. The firm has a 50 day moving average price of $397.29 and a 200-day moving average price of $416.02. The company has a market capitalization of $1.43 trillion, a P/E ratio of 350.08, a P/E/G ratio of 15.83 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.
Tesla (NASDAQ:TSLA – Get Free Report) last released its 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. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the prior year, the firm earned $0.27 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 1.19 EPS for the current year.
Tesla Profile
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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