RKL Wealth Management LLC Reduces Stock Position in Tesla, Inc. $TSLA

RKL Wealth Management LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 14.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,007 shares of the electric vehicle producer’s stock after selling 1,493 shares during the quarter. RKL Wealth Management LLC’s holdings in Tesla were worth $3,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Crestwood Advisors Group LLC boosted its stake in 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 buying an additional 5,039 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Tesla by 29.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer’s stock valued at $14,487,000 after acquiring an additional 7,446 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in shares of Tesla by 5.9% during 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 period. Private Capital Advisors Inc. boosted its position in shares of Tesla by 139.3% in the fourth quarter. Private Capital Advisors Inc. now owns 21,331 shares of the electric vehicle producer’s stock worth $9,593,000 after acquiring an additional 12,417 shares during the last quarter. Finally, Wealthquest Corp purchased a new stake in Tesla in the fourth quarter valued at approximately $1,035,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla began rolling out a long-awaited FSD v14 Lite update, seen as meaningful progress for its autonomy thesis and a positive proof point for the company’s software-led growth narrative. Tesla Stock Surges 15% as FSD Update Backs Its Autonomy Thesis
• Positive Sentiment: Investors are positioning ahead of Tesla’s Q2 delivery release, with analysts expecting a rebound and stronger overseas demand, especially in Europe, supporting expectations for a solid print. Tesla Q2 Deliveries Due Later This Week. Stock Gains On Newest FSD Update.
• Positive Sentiment: European registrations climbed in June, reinforcing the view that international demand is offsetting weakness in the U.S. market and could help Tesla beat delivery expectations. Tesla European registrations climb in June
• Neutral Sentiment: Retail-trader enthusiasm remains high, with Tesla’s price crossing a “meme” level that could attract more speculative buying, but this is more of a trading catalyst than a fundamental change. Tesla (TSLA) Retail Traders May Get Fired Up as Stock Crosses $420
• Negative Sentiment: Michael Burry disclosed new short positions against Tesla, adding a high-profile bearish headline that reinforces concerns about valuation and execution risk. ‘Big Short’ Investor Michael Burry Reveals Tesla, Nvidia Shorts, Says Chip Boom Is ‘Beginning of the End’
• Negative Sentiment: California’s new EV incentives appear to favor Tesla rivals like Rivian and Lucid, potentially pressuring Tesla’s U.S. demand outlook at the margin. California vs. Elon Musk: Tesla Snubbed as New EV Incentives Boost Rivian, Lucid
• Negative Sentiment: BYD’s continued recovery and expanding global sales raise competitive pressure, reviving concerns that Tesla could lose ground in the global EV race. Tesla Stock (TSLA) Falls as Archrival BYD Extends Sales Recovery

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares of the company’s stock, valued at $18,300,145.89. The trade was 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. Insiders sold 32,015 shares of company stock worth $12,383,640 over the last three months. 19.90% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Tesla stock opened at $425.30 on Thursday. The firm has a fifty day moving average of $407.13 and a 200-day moving average of $412.38. Tesla, Inc. has a 52-week low of $288.77 and a 52-week high of $498.83. 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 market capitalization of $1.60 trillion, a P/E ratio of 390.18, a PEG ratio of 16.72 and a beta of 1.80.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating 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 business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter in the previous year, the business posted $0.27 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, analysts predict that Tesla, Inc. will post 1.2 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. President Capital upped their price target on shares of Tesla from $424.00 to $428.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Canaccord Genuity Group upped their price objective on Tesla from $420.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Tesla in a research report on Tuesday. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Friday, June 12th. Finally, Jefferies Financial Group boosted their price target on Tesla from $350.00 to $375.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $403.07.

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.