iA Global Asset Management Inc. Sells 42,645 Shares of Tesla, Inc. $TSLA

iA Global Asset Management Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA) by 16.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 217,193 shares of the electric vehicle producer’s stock after selling 42,645 shares during the period. Tesla accounts for about 1.1% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 19th biggest position. iA Global Asset Management Inc.’s holdings in Tesla were worth $80,741,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TSLA. Equita Financial Network Inc. increased its holdings in shares of Tesla by 21.0% during the first quarter. Equita Financial Network Inc. now owns 1,365 shares of the electric vehicle producer’s stock worth $507,000 after buying an additional 237 shares in the last quarter. Impact Partnership Wealth LLC boosted its holdings in shares of Tesla by 15.7% in the 1st quarter. Impact Partnership Wealth LLC now owns 8,779 shares of the electric vehicle producer’s stock worth $3,263,000 after acquiring an additional 1,190 shares in the last quarter. MQS Management LLC bought a new stake in Tesla during the 1st quarter worth approximately $315,000. Wheelhouse Advisory Group LLC increased its holdings in Tesla by 80.6% during the 1st quarter. Wheelhouse Advisory Group LLC now owns 4,312 shares of the electric vehicle producer’s stock valued at $1,603,000 after purchasing an additional 1,925 shares in the last quarter. Finally, KOM Wealth Management Group LLC increased its holdings in Tesla by 17.2% during the 1st quarter. KOM Wealth Management Group LLC now owns 742 shares of the electric vehicle producer’s stock valued at $276,000 after purchasing an additional 109 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Key Tesla News

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 Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the transaction, the chief financial officer directly owned 22,039 shares in the company, valued at $8,864,085.80. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Tesla stock in a transaction 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 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 a total of 32,015 shares of company stock valued at $12,383,640 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLA. Phillip Securities reduced their price objective on Tesla from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Wednesday, May 13th. Erste Group Bank raised Tesla from a “sell” rating to a “hold” rating in a report on Friday, June 5th. Barclays reiterated a “neutral” rating on shares of Tesla in a research report on Wednesday, May 13th. Royal Bank Of Canada reissued a “buy” rating on shares of Tesla in a report on Monday, April 27th. Finally, Roth Mkm reaffirmed a “buy” rating on shares of Tesla in a research note on Thursday, April 23rd. Twenty-one analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $403.07.

Tesla Stock Up 1.1%

Shares of NASDAQ TSLA opened at $425.30 on Thursday. Tesla, Inc. has a 1 year low of $288.77 and a 1 year high of $498.83. The firm’s 50-day moving average is $407.13 and its 200-day moving average is $412.38. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.60 trillion, a PE ratio of 390.18, a price-to-earnings-growth ratio of 16.72 and a beta of 1.80.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion during 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. Tesla’s revenue for the quarter was up 15.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.2 EPS for the current 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.