First National Trust Co Sells 1,207 Shares of Tesla, Inc. $TSLA

First National Trust Co reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 36,538 shares of the electric vehicle producer’s stock after selling 1,207 shares during the period. First National Trust Co’s holdings in Tesla were worth $16,432,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TSLA. Networth Advisors LLC bought a new position in shares of Tesla during the fourth quarter valued at about $26,000. Chapman Financial Group LLC bought a new position in shares of Tesla during the second quarter valued at about $26,000. Davidson Capital Management Inc. increased 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 buying an additional 27 shares during the last quarter. Prism Advisors Inc. purchased a new stake in Tesla during the fourth quarter worth about $30,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Tesla during the third quarter worth about $30,000. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of the business’s 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 owned 18,106 shares of the company’s stock, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Tesla 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 sale, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. The trade was 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. In the last ninety days, insiders have sold 83,213 shares of company stock valued at $32,201,105. 19.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a report on Friday, April 24th. Morgan Stanley set a $415.00 price objective on shares of Tesla and gave the stock an “equal weight” rating in a report on Thursday, January 29th. UBS Group raised their price objective on shares of Tesla from $352.00 to $364.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Piper Sandler restated an “overweight” rating on shares of Tesla in a report on Thursday, January 29th. Finally, Bank of America initiated coverage on shares of Tesla in a report on Wednesday, March 4th. They set a “buy” rating and a $460.00 price objective for the company. Nineteen equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $395.20.

Tesla Price Performance

TSLA opened at $426.01 on Friday. The company has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 390.83, a PEG ratio of 16.82 and a beta of 1.79. 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 firm has a 50-day moving average price of $387.76 and a 200-day moving average price of $416.91. Tesla, Inc. has a twelve month low of $273.21 and a twelve month high of $498.83.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. Tesla’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. Equities analysts expect that Tesla, Inc. will post 1.2 EPS for the current year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Full Self-Driving rollout in China and subscription-based FSD availability in Europe bolster the case that autonomy could become a bigger growth driver. Article Title
• Positive Sentiment: Some analysts and commentators continue to frame Tesla as a robotics and AI company, with bullish chatter around Optimus and the company’s long-term pivot away from being just an automaker. Article Title
• Neutral Sentiment: SpaceX’s IPO has dominated investor attention, and while it highlights Musk’s ecosystem, the market is debating whether it will ultimately help Tesla or distract capital and attention away from TSLA. Article Title
• Negative Sentiment: Reuters reported Tesla is recalling 14,575 Model Y SUVs in the U.S. over a missing weight certification label, adding another quality-control issue to the stock’s recent concerns. Article Title
• Negative Sentiment: Several articles warn that Tesla’s valuation remains stretched and that FSD still faces execution questions, with critics saying the technology is not yet ready to justify the stock’s premium. Article Title

Tesla Company 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.