WCG Wealth Advisors LLC Grows Stock Position in Tesla, Inc. $TSLA

WCG Wealth Advisors LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 89.6% in the 4th quarter, HoldingsChannel reports. The firm owned 69,198 shares of the electric vehicle producer’s stock after purchasing an additional 32,704 shares during the quarter. Tesla makes up about 0.9% of WCG Wealth Advisors LLC’s portfolio, making the stock its 28th largest position. WCG Wealth Advisors LLC’s holdings in Tesla were worth $31,120,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after purchasing an additional 6,538,720 shares during the last quarter. State Street Corp raised its stake in shares of Tesla by 0.3% in the third quarter. State Street Corp now owns 113,762,849 shares of the electric vehicle producer’s stock worth $50,592,614,000 after purchasing an additional 344,162 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tesla by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock worth $29,426,070,000 after purchasing an additional 375,946 shares during the last quarter. Capital World Investors raised its stake in shares of Tesla by 5.8% in the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock worth $19,583,547,000 after purchasing an additional 2,403,019 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Tesla in the fourth quarter worth about $17,128,100,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 0.0%

Shares of TSLA opened at $423.70 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12 month low of $273.21 and a 12 month high of $498.83. The stock’s 50 day moving average is $394.52 and its two-hundred day moving average is $416.14. The firm has a market cap of $1.59 trillion, a P/E ratio of 388.72, a PEG ratio of 16.73 and a beta of 1.80.

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

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s China-made EV sales rose nearly 40% in May, suggesting a firmer recovery in a key market. Reuters article
• Positive Sentiment: Tesla expanded its unsupervised robotaxi service area in Austin, supporting the autonomy growth narrative. Reuters article
• Positive Sentiment: FSD Supervised reportedly gained approval in Estonia, extending Tesla’s driver-assistance rollout in Europe. Zacks article
• Neutral Sentiment: SpaceX’s IPO and talk of a possible Tesla-SpaceX link are drawing attention to Elon Musk’s broader empire, but this is still speculative for TSLA. CNBC article
• Negative Sentiment: Tesla settled some racism claims in California, while a larger jury trial still looms as a legal overhang. TipRanks article
• Negative Sentiment: New FSD-related litigation in China and intensifying robotics competition raise concerns about Tesla’s valuation and growth story. Yahoo Finance article

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. China Renaissance reduced their price objective on Tesla from $382.00 to $372.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Bank of America started coverage on Tesla in a report on Wednesday, March 4th. They set a “buy” rating and a $460.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tesla in a report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, April 23rd. Finally, President Capital raised their target price on Tesla from $424.00 to $428.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $395.20.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’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 sale, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 18,106 shares in the company, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 57,482 shares of company stock worth $21,508,331. 19.90% of the stock is owned by corporate insiders.

Tesla 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.