Venturi Wealth Management LLC Has $9.22 Million Stock Position in Tesla, Inc. $TSLA

Venturi Wealth Management LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 12.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 24,817 shares of the electric vehicle producer’s stock after purchasing an additional 2,818 shares during the period. Venturi Wealth Management LLC’s holdings in Tesla were worth $9,225,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Networth Advisors LLC bought a new position in shares of Tesla during the fourth quarter worth approximately $26,000. Chapman Financial Group LLC acquired a new position in Tesla in the 2nd quarter valued at $26,000. Davidson Capital Management Inc. increased its position in Tesla by 79.4% during the 4th 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. Friedenthal Financial lifted its holdings in shares of Tesla by 66.7% during the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 30 shares in the last quarter. Finally, Prism Advisors Inc. bought a new stake in shares of Tesla in the fourth quarter valued at about $30,000. 66.20% of the stock is owned by institutional investors.

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

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’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 sale, the chief financial officer directly owned 22,039 shares in the company, valued at approximately $8,864,085.80. The trade was a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 company’s stock in a transaction that occurred on 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 sale, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 32,015 shares of company stock worth $12,383,640. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TSLA shares. TD Cowen restated a “buy” rating and set a $490.00 price objective on shares of Tesla in a research note on Thursday, June 4th. President Capital boosted their price target on Tesla from $424.00 to $428.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Bank of America started coverage on shares of Tesla in a research note on Wednesday, March 4th. They set a “buy” rating and a $460.00 price objective on the stock. Sanford C. Bernstein raised shares of Tesla from an “underperform” rating to an “outperform” rating in a report on Friday, June 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research note on Friday, April 24th. Twenty-one research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $403.07.

Tesla Price Performance

Shares of TSLA opened at $379.71 on Monday. The firm has a market cap of $1.43 trillion, a PE ratio of 348.36, a price-to-earnings-growth ratio of 15.18 and a beta of 1.80. Tesla, Inc. has a 52-week low of $288.77 and a 52-week 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 business’s 50 day moving average price is $405.62 and its two-hundred day moving average price is $412.99.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 1.19 EPS 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.