SOL Capital Management CO Cuts Holdings in Tesla, Inc. $TSLA

SOL Capital Management CO lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 86.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319 shares of the electric vehicle producer’s stock after selling 8,576 shares during the period. SOL Capital Management CO’s holdings in Tesla were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crestwood Advisors Group LLC boosted its stake in shares of Tesla by 34.7% during the fourth 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 period. Gamco Investors INC. ET AL increased its position in Tesla by 29.6% in 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 period. Calamos Wealth Management LLC raised its stake in Tesla by 5.9% during the 4th quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer’s stock valued at $18,846,000 after acquiring an additional 2,341 shares during the last quarter. Private Capital Advisors Inc. lifted its position in Tesla by 139.3% during the 4th 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 period. Finally, Wealthquest Corp acquired a new stake in Tesla during the 4th quarter worth approximately $1,035,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 7.5%

TSLA opened at $393.45 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. Tesla, Inc. has a 12 month low of $288.77 and a 12 month high of $498.83. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 360.96, a P/E/G ratio of 16.88 and a beta of 1.80. The business has a 50 day simple moving average of $407.27 and a 200-day simple moving average of $411.92.

Tesla (NASDAQ:TSLA) last announced 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 firm 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, April 23rd. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Thursday. Erste Group Bank raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Robert W. Baird cut their price objective on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tesla in a research note on Monday, June 1st. Twenty-one research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $403.92.

More Tesla News

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.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly owned 22,039 shares of the company’s stock, valued at $8,864,085.80. This represents a 10.57% decrease in their position. The transaction 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 stock in a transaction dated 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,015 shares of company stock worth $12,383,640 over the last 90 days. 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.