Strs Ohio Sells 37,268 Shares of Tesla, Inc. $TSLA

Strs Ohio trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 762,143 shares of the electric vehicle producer’s stock after selling 37,268 shares during the quarter. Tesla accounts for 1.1% of Strs Ohio’s holdings, making the stock its 13th biggest holding. Strs Ohio’s holdings in Tesla were worth $283,327,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Networth Advisors LLC acquired a new position in shares of Tesla in the fourth quarter valued at about $26,000. Davidson Capital Management Inc. raised its stake in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $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 3rd quarter valued at about $30,000. Prism Advisors Inc. bought a new stake in Tesla in the 4th quarter valued at about $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new position in shares of Tesla during the 3rd quarter worth approximately $31,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. Piper Sandler reissued an “overweight” rating on shares of Tesla in a research report on Wednesday, June 10th. The Goldman Sachs Group began coverage on Tesla in a research report on Friday, June 5th. They set a “buy” rating for the company. China Renaissance decreased their price target on Tesla from $382.00 to $372.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. Robert W. Baird dropped their price target on Tesla from $538.00 to $522.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. Finally, DZ Bank raised shares of Tesla from a “sell” rating to a “hold” rating and set a $385.00 price objective for the company in a research report on Friday, April 24th. Twenty-one research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $403.92.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Q2 deliveries beat expectations by a wide margin, reinforcing that the company’s automotive business is regaining momentum. Reuters: Tesla posts stronger-than-expected Q2 deliveries as Europe sales improve
• Positive Sentiment: U.S. regulators closed a probe into Tesla’s braking issue, removing one overhang tied to safety concerns. Reuters: U.S. closes 2022 probe into 695,000 Tesla vehicles over unexpected braking
• Positive Sentiment: Tesla launched a six-seater long-wheelbase Model Y in the U.S. to support sales after the loss of a key tax credit, which could help broaden demand. Reuters: Tesla launches six-seater Model Y L in US to boost sales
• Neutral Sentiment: Analysts remain split: some raised earnings estimates and price targets, but several maintained Hold/neutral views, citing valuation risk.
• Negative Sentiment: Multiple reports say the stock is selling off because investors are focused on margin and profitability concerns rather than the delivery beat, implying the market had already priced in strong numbers.
• Negative Sentiment: Safety headlines remain a drag, including a fatal Tesla Semi crash in Nevada and a Texas manslaughter charge tied to a Tesla using driver-assistance features, which could renew scrutiny of Tesla’s technology and brand.
• Negative Sentiment: Michael Burry disclosed a bearish bet against Tesla, adding another headline that may be pressuring sentiment.

Tesla Stock Down 7.5%

Shares of TSLA opened at $393.45 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 360.96, a PEG ratio of 16.88 and a beta of 1.80. The stock has a fifty day moving average of $407.27 and a 200-day moving average of $411.92.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 value of $9,985,506.99. Following the completion of the transaction, the director owned 48,399 shares of the company’s stock, valued at $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were 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 of the company’s stock, valued at approximately $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 90 days, insiders have sold 32,015 shares of company stock worth $12,383,640. Company insiders own 19.90% of the company’s stock.

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.