Tesla, Inc. $TSLA Stock Holdings Lifted by Wesbanco Bank Inc.

Wesbanco Bank Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,801 shares of the electric vehicle producer’s stock after acquiring an additional 6,590 shares during the quarter. Wesbanco Bank Inc.’s holdings in Tesla were worth $22,975,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Networth Advisors LLC purchased a new position in Tesla in the 4th quarter worth about $26,000. Davidson Capital Management Inc. boosted its holdings in shares of Tesla by 79.4% in the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 27 shares during the period. Turning Point Benefit Group Inc. purchased a new position in shares of Tesla in the third quarter worth approximately $30,000. Prism Advisors Inc. acquired a new stake in shares of Tesla during the fourth quarter valued at approximately $30,000. Finally, Texas Capital Bancshares Inc TX purchased a new stake in shares of Tesla in the 3rd quarter valued at approximately $31,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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Key Tesla News

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

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 Tesla 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 transaction, the chief financial officer owned 22,039 shares in the company, valued at $8,864,085.80. This trade represents a 10.57% decrease in their position. 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 57,824 shares of company stock valued at $21,657,588. 19.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on TSLA shares. Truist Financial lowered their price objective on shares of Tesla from $438.00 to $400.00 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Tesla in a report on Tuesday, April 21st. BNP Paribas Exane downgraded Tesla from a “hold” rating to an “underperform” rating in a research note on Friday, June 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research note on Friday, April 24th. Finally, Jefferies Financial Group upped their target price on Tesla from $350.00 to $375.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Twenty-one equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $403.07.

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Tesla Stock Up 1.2%

Shares of TSLA stock opened at $379.71 on Friday. The stock’s 50 day simple moving average is $405.62 and its 200 day simple moving average is $413.17. Tesla, Inc. has a twelve month low of $288.77 and a twelve month high of $498.83. 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 capitalization of $1.43 trillion, a price-to-earnings ratio of 348.36, a PEG ratio of 15.18 and a beta of 1.80.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its 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 firm had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.19 EPS for the current year.

About Tesla

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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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