Straight Path Wealth Management Sells 5,496 Shares of Tesla, Inc. $TSLA

Straight Path Wealth Management lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,181 shares of the electric vehicle producer’s stock after selling 5,496 shares during the period. Tesla comprises 14.3% of Straight Path Wealth Management’s holdings, making the stock its 2nd biggest holding. Straight Path Wealth Management’s holdings in Tesla were worth $53,148,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Total Wealth Planning & Management Inc. acquired a new position in shares of Tesla in the 4th quarter worth approximately $903,000. Lifestyle Asset Management Inc. purchased a new position in shares of Tesla in the fourth quarter worth approximately $242,000. Prestige Wealth Management Group LLC raised its holdings in shares of Tesla by 2.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 5,028 shares of the electric vehicle producer’s stock valued at $2,261,000 after acquiring an additional 116 shares during the period. Spectrum Wealth Advisory Group LLC lifted its position in shares of Tesla by 26.5% in the 4th quarter. Spectrum Wealth Advisory Group LLC now owns 1,361 shares of the electric vehicle producer’s stock valued at $612,000 after acquiring an additional 285 shares in the last quarter. Finally, BBR Partners LLC lifted its position in shares of Tesla by 13.2% in the 4th quarter. BBR Partners LLC now owns 1,199 shares of the electric vehicle producer’s stock valued at $539,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TSLA shares. JPMorgan Chase & Co. reissued a “sell” rating on shares of Tesla in a research note on Tuesday. Zacks Research upgraded Tesla from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. BNP Paribas Exane raised Tesla from an “underperform” rating to a “neutral” rating in a research note on Monday, April 27th. Royal Bank Of Canada restated a “buy” rating on shares of Tesla in a research report on Monday, April 27th. Finally, Mizuho dropped their target price on Tesla from $540.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $395.20.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were 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 approximately $8,147,700. This trade represents a 14.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 company’s stock in a transaction 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 completion of the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 55,218 shares of company stock worth $20,609,455 over the last ninety days. 19.90% of the stock is currently owned by insiders.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla expanded its unsupervised Robotaxi service area in Austin, a sign that its autonomous ride-hailing push is still advancing and could support the long-term AI/robotics story. Reuters: Tesla rolls out unsupervised robotaxis in Austin
• Positive Sentiment: Tesla reported a strong rebound in China-made EV sales in May, with Shanghai deliveries jumping sharply as the domestic market showed signs of recovery, which may help near-term demand sentiment. CNBC: Tesla’s China-made EV sales jump nearly 40% in May
• Positive Sentiment: Global EV sales rose in April and were led by Tesla, reinforcing that the broader EV market is still growing. TipRanks: Global Electric Vehicle Sales Rose 16% in April
• Neutral Sentiment: News around SpaceX’s massive IPO and speculation about a possible future Tesla-SpaceX linkage is stirring investor attention, but it is mostly indirect and highly speculative for TSLA in the near term. CNBC: SpaceX targets $135 IPO price
• Negative Sentiment: Several reports highlighted that Tesla’s stock is being dragged by weakness in tech stocks overall, especially after Broadcom’s disappointing results weighed on the sector. Yahoo Finance: Sector Update: Tech Stocks Fall Thursday Afternoon
• Negative Sentiment: Analysts and commentators continue to question Tesla’s rich valuation, arguing that the stock price still reflects ambitious AI, robotaxi, and robotics expectations that have not yet been fully proven in financial results. 247WallSt: Buy, Hold, or Sell: Is Tesla Stock a Sell Above $400?
• Negative Sentiment: Competitive and legal concerns are also lingering, including scrutiny over Tesla’s FSD claims in China and new competition in robotics and EVs, which can pressure sentiment. Yahoo Finance: Tesla Faces China FSD Lawsuit

Tesla Stock Performance

Shares of TSLA opened at $418.45 on Friday. The company’s 50 day moving average price is $395.23 and its 200 day moving average price is $416.24. Tesla, Inc. has a 52 week low of $273.21 and a 52 week high of $498.83. The company has a market capitalization of $1.57 trillion, a PE ratio of 383.90, a PEG ratio of 16.73 and a beta of 1.80. 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 (NASDAQ:TSLA) last announced its quarterly earnings data 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. 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 period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 1.2 EPS for the current fiscal 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.