Russell Investments Group Ltd. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 15.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,893,110 shares of the electric vehicle producer’s stock after selling 353,203 shares during the period. Tesla accounts for about 0.6% of Russell Investments Group Ltd.’s portfolio, making the stock its 17th largest position. Russell Investments Group Ltd.’s holdings in Tesla were worth $671,049,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Peirce Capital Management LLC lifted its position in shares of Tesla by 1.5% in the second quarter. Peirce Capital Management LLC now owns 1,657 shares of the electric vehicle producer’s stock valued at $697,000 after acquiring an additional 25 shares in the last quarter. Phillip James Consulting Co. increased its position in Tesla by 8.7% during the 1st quarter. Phillip James Consulting Co. now owns 326 shares of the electric vehicle producer’s stock worth $121,000 after purchasing an additional 26 shares in the last quarter. Cadence Wealth Management LLC raised its stake in Tesla by 4.7% in the 1st quarter. Cadence Wealth Management LLC now owns 580 shares of the electric vehicle producer’s stock valued at $216,000 after purchasing an additional 26 shares during the last quarter. Crumly & Associates Inc. raised its stake in Tesla by 0.6% in the 2nd quarter. Crumly & Associates Inc. now owns 4,698 shares of the electric vehicle producer’s stock valued at $1,976,000 after purchasing an additional 26 shares during the last quarter. Finally, Brickley Wealth Management raised its stake in Tesla by 3.6% in the 2nd quarter. Brickley Wealth Management now owns 757 shares of the electric vehicle producer’s stock valued at $318,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Insider Activity
In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total value of $938,498.78. Following the completion of the sale, the chief financial officer directly owned 25,972 shares in the company, valued at approximately $9,353,296.36. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 20.00% of the company’s stock.
Latest Tesla News
These are some of the TSLA news items that stood out recently:
- Positive Sentiment: Reports say Tesla and SpaceX have formed committees to assess an all-stock merger and that talks are advancing, with an announcement possible by December. The prospect of combining Tesla’s automotive and autonomy businesses with SpaceX has fueled optimism, though no agreement is confirmed and a deal could bring valuation and dilution risks. Article: SpaceX and Tesla Talks on Record Merger Are Said to Progress
- Neutral Sentiment: Tesla plans to wind down Cybertruck production by summer 2027 and shift Texas capacity toward Cybercab, while CEO Elon Musk says production will continue to address the existing backlog. The pivot could free resources for autonomy, but its payoff depends on Cybercab execution and demand. Article: Tesla’s Plan to End Cybertruck Reveals Its Real Priorities
- Negative Sentiment: Bearish commentary points to Tesla’s rich valuation and limited near-term profit growth. A separate report says Musk’s proposed chip-building ambitions could require enormous investment—potentially beyond Tesla’s cash-flow capacity—raising questions about funding and returns. Article: Tesla valuation downgrade Article: Musk’s chip plan and Tesla cash flow
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Canaccord Genuity Group set a $442.00 price target on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, October 22nd. UBS Group raised shares of Tesla from a “neutral” rating to a “buy” rating in a research report on Monday, October 26th. BNP Paribas Exane raised shares of Tesla from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $266.00 to $420.00 in a research note on Thursday, October 22nd. Monness Crespi & Hardt started coverage on shares of Tesla in a research note on Monday, October 26th. They set a “buy” rating on the stock. Finally, CLSA restated an “underperform” rating on shares of Tesla in a research report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $414.51.
Read Our Latest Stock Analysis on Tesla
Tesla Stock Up 1.7%
Shares of NASDAQ:TSLA opened at $397.45 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.57 trillion, a price-to-earnings ratio of 436.76, a PEG ratio of 24.21 and a beta of 1.74. The stock’s 50-day moving average price is $374.47 and its two-hundred day moving average price is $383.25. Tesla, Inc. has a 12-month low of $297.38 and a 12-month high of $498.83.
Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $28.05 billion during the quarter, compared to the consensus estimate of $28.06 billion. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. On average, research analysts forecast that Tesla, Inc. will post 0.67 EPS for the current year.
About Tesla
Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.
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