Wesbanco Bank Inc. Has $22.98 Million Stock Position in Tesla, Inc. $TSLA

Wesbanco Bank Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,801 shares of the electric vehicle producer’s stock after purchasing an additional 6,590 shares during the quarter. Wesbanco Bank Inc.’s holdings in Tesla were worth $22,975,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after buying an additional 6,538,720 shares during the last quarter. State Street Corp grew its position in Tesla by 0.9% during the fourth quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock worth $51,647,164,000 after buying an additional 1,080,085 shares in the last quarter. Geode Capital Management LLC increased its stake in Tesla by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock valued at $29,426,070,000 after acquiring an additional 375,946 shares during the period. Capital World Investors increased its stake in Tesla by 5.8% during the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock valued at $19,583,547,000 after acquiring an additional 2,403,019 shares during the period. Finally, Norges Bank acquired a new position in Tesla in the 4th quarter valued at approximately $17,128,100,000. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 3,000 shares of Tesla 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 transaction, the chief financial officer 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 transaction was disclosed in a legal filing with the SEC, which is accessible 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 business’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 directly owned 48,399 shares in the company, valued at $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 57,824 shares of company stock valued at $21,657,588 over the last three months. 19.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup reissued a “neutral” rating on shares of Tesla in a report on Tuesday, June 16th. Cantor Fitzgerald restated an “overweight” rating on shares of Tesla in a research note on Monday, June 1st. DZ Bank upgraded shares of Tesla from a “sell” rating to a “hold” rating and set a $385.00 price target on the stock in a research note on Friday, April 24th. Canaccord Genuity Group boosted their price target on shares of Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, HSBC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, June 15th. Twenty-one analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $403.07.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $379.71 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. The business’s fifty day moving average price is $405.62 and its two-hundred day moving average price is $413.17. Tesla, Inc. has a fifty-two week low of $288.77 and a fifty-two week high of $498.83. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 348.36, a price-to-earnings-growth ratio of 15.18 and a beta of 1.80.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 net margin of 3.95% and a return on equity of 4.89%. The company had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 1.19 EPS for the current fiscal year.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Analysts remained constructive on Tesla’s longer-term growth story, with one Seeking Alpha piece upgrading the stock and arguing that two previously speculative “moonshots” are becoming medium-term catalysts. Tesla: 2 Moonshots Have Now Become Medium-Term Catalysts (Rating Upgrade)
• Positive Sentiment: Tesla announced expansion plans in Germany, including higher production at Gigafactory Berlin, which supports the narrative that demand is improving in Europe. Tesla Expands Production In Germany, As VW Cuts 100,000 Jobs
• Positive Sentiment: Tesla also benefited from headlines around its energy business, including a major 16-gigawatt power partnership with Sunrun and Renew Home that could strengthen Tesla Energy’s growth profile. Tesla (TSLA) Lands 16 Gigawatt U.S. Power Plant Deal And 25 Gigawatt Hour Europe Pact
• Neutral Sentiment: Elon Musk’s teaser about a highly advanced next-generation Roadster and other futuristic ambitions may support the long-term story, but it is not an immediate fundamental catalyst. Elon Musk Teases Flying Tesla Roadster With Crazy Tech
• Negative Sentiment: Tesla is facing renewed federal scrutiny after a fatal Model 3 crash, including an NHTSA probe and a separate NTSB investigation, which raises fresh concerns about Full Self-Driving safety. Tesla Under Fresh Scrutiny After Model 3 Crashes Into Home, Killing Woman
• Negative Sentiment: Tesla also settled a lawsuit tied to a fatal Full Self-Driving crash while federal investigations continue, reinforcing investor worries about legal liability and autonomy risk. Tesla settles FSD crash lawsuit as federal investigations continue
• Negative Sentiment: Several market commentaries argued that Tesla remains expensive relative to its current fundamentals, with valuation skepticism and underperformance concerns weighing on sentiment. Tesla Stock Is Having a Bad Week and an Even Worse Month

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.