Rathbones Group PLC Sells 2,055 Shares of Tesla, Inc. $TSLA

Rathbones Group PLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,993 shares of the electric vehicle producer’s stock after selling 2,055 shares during the period. Rathbones Group PLC’s holdings in Tesla were worth $40,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Networth Advisors LLC bought a new position in shares of Tesla in the fourth quarter worth about $26,000. Davidson Capital Management Inc. increased its stake in Tesla by 79.4% in the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 27 shares in the last quarter. Turning Point Benefit Group Inc. bought a new stake in Tesla in the third quarter valued at approximately $30,000. Prism Advisors Inc. bought a new stake in Tesla in the fourth quarter valued at approximately $30,000. Finally, Texas Capital Bancshares Inc TX bought a new stake in Tesla in the third quarter valued at approximately $31,000. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TSLA. Barclays reiterated a “neutral” rating on shares of Tesla in a report on Wednesday, May 13th. Robert W. Baird reduced their target price on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Jefferies Financial Group restated a “neutral” rating on shares of Tesla in a report on Wednesday, April 22nd. Truist Financial reduced their target price on shares of Tesla from $438.00 to $400.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $510.00 target price on shares of Tesla in a report on Wednesday, April 22nd. Nineteen investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $395.20.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Full Self-Driving software is expanding in Europe, with Lithuania becoming the second European country to approve it, reinforcing the company’s push to be viewed as an AI and robotics platform rather than just an automaker. Tesla’s Full Self-Driving software is creeping into Europe
• Positive Sentiment: Shares are getting support from investor interest in Tesla’s long-term autonomy and robotics optionality, including reports that Paul Tudor Jones boosted his TSLA stake and ARK Invest bought more Tesla alongside other AI/flying-taxi names. As Tesla Leans Into AI Pivot, Billionaire Paul Tudor Jones Just Raised His TSLA Stake by 9X
• Neutral Sentiment: SpaceX’s long-awaited IPO filing is dominating the Musk narrative and could create a new public-market destination for investors who want exposure to Elon Musk, including Tesla’s roughly 19 million SpaceX shares, but the direct impact on TSLA is still uncertain. SpaceX IPO Filing Finally Comes. Mars, Musk, and More Big Things to Watch.
• Neutral Sentiment: Analysts and commentators continue debating whether Tesla’s recent move is a technical rebound or a larger trend reversal, with chart watchers pointing to a possible hammer pattern after recent weakness. Stock Of The Day: Did Tesla Reverse?
• Negative Sentiment: TSLA is still facing valuation pressure after recent selling tied to higher Model Y prices, capex concerns, and the idea that SpaceX’s IPO could siphon investor capital away from Tesla. Tesla stock slumps over 3% to sink below $400: what happened?

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the sale, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 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 completion of the sale, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their position. 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 quarter, insiders sold 83,213 shares of company stock valued at $32,201,105. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $417.26 on Thursday. The stock has a market cap of $1.57 trillion, a P/E ratio of 382.81, a P/E/G ratio of 15.96 and a beta of 1.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. The company has a fifty day moving average price of $387.02 and a two-hundred day moving average price of $417.12. Tesla, Inc. has a one year low of $273.21 and a one year high of $498.83.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm 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%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 1.2 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.