Summit Global Investments grew its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 16.1% during the third quarter, HoldingsChannel.com reports. The firm owned 52,231 shares of the electric vehicle producer’s stock after acquiring an additional 7,250 shares during the quarter. Tesla makes up about 0.9% of Summit Global Investments’ holdings, making the stock its 13th biggest holding. Summit Global Investments’ holdings in Tesla were worth $18,532,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in shares of Tesla by 2.4% in the second quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer’s stock worth $49,402,312,000 after purchasing an additional 2,761,298 shares during the last quarter. Amundi increased its stake in Tesla by 14.0% in the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock worth $8,243,513,000 after buying an additional 2,727,141 shares during the period. Legal & General Group Plc bought a new stake in Tesla during the 2nd quarter valued at about $8,535,612,000. Bank of New York Mellon Corp bought a new stake in Tesla during the 2nd quarter valued at about $6,083,630,000. Finally, Bamco Inc. NY boosted its position in Tesla by 5.0% in the 2nd quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer’s stock valued at $5,267,911,000 after buying an additional 591,243 shares during the period. 66.20% of the stock is currently owned by institutional investors.
Insider Buying and Selling
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 transaction, the chief financial officer owned 25,972 shares of the company’s stock, valued at $9,353,296.36. The trade was a 9.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by company insiders.
Key Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla’s robotaxi business continues to generate optimism. The company added a Quiet Mode to Model Y robotaxis after driverless miles reportedly increased eightfold, potentially improving passenger comfort and supporting broader adoption. Tesla Adds Sleep-Friendly Robotaxi Feature After Driverless Miles Surge Eightfold
- Positive Sentiment: Analysts and financial commentators pointed to Cybercab, robotaxis, Optimus and AI as potential growth engines that could create new revenue streams beyond vehicle sales. Tesla’s European registrations also reached a record in September, with the Model Y and Model 3 ranking first and second. Tesla Could Be About to Unlock a Brand-New Revenue Stream
- Positive Sentiment: Tesla generated $1.5 billion in third-quarter free cash flow and reduced its 2026 capital-spending forecast to $20 billion, suggesting some capital discipline despite continued investment in AI, robotics and autonomy. Tesla’s Free Cash Flow Beat
- Neutral Sentiment: A possible Tesla-SpaceX merger remains a major source of speculative upside, but Bank of America warned that Chinese regulatory approval could be a significant obstacle, particularly because Tesla’s Shanghai operations could become linked to a U.S. defense contractor. Tesla-SpaceX Merger Could Face Regulatory Risk in China
- Negative Sentiment: A Seeking Alpha downgrade argued that Tesla’s valuation already discounts ambitious promises whose timelines continue to slip. Rising research and development spending for AI, Optimus and driverless vehicles is also pressuring operating profits. Tesla Paying Peak Multiples for Promises That Keep Slipping
- Negative Sentiment: Competition and execution concerns remain. Chinese rival XPeng promoted more commercially viable flying-car technology, Rivian is developing a competing autonomy strategy, and Tesla reportedly halted Cybertruck reservations and sales plans in Australia and New Zealand. Tesla Stock Falls as China Promotes Flying Cars
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research report on Thursday, October 22nd. Barclays upgraded Tesla from an “outperform” rating to an “overweight” rating and boosted their price target for the company from $370.00 to $450.00 in a report on Monday, October 26th. Morgan Stanley raised Tesla from a “reduce” rating to an “overweight” rating in a research note on Monday, October 26th. Yorkville Ives began coverage on Tesla in a report on Wednesday, October 7th. They set an “outperform” rating and a $500.00 price objective on the stock. Finally, Monness Crespi & Hardt started coverage on Tesla in a research report on Monday, October 26th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Moderate Buy” and an average target price of $414.51.
Get Our Latest Stock Report on Tesla
Tesla Trading Down 0.9%
NASDAQ TSLA opened at $399.81 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 439.36, a price-to-earnings-growth ratio of 24.77 and a beta of 1.92. The company’s 50-day simple moving average is $369.61 and its two-hundred day simple moving average is $385.81. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The firm had revenue of $28.05 billion during the quarter, compared to analysts’ expectations of $28.06 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The company’s revenue was down .2% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 0.67 EPS for the current fiscal year.
Tesla Company Profile
Tesla, Inc is an electric vehicle and clean energy company headquartered in Austin, Texas. Founded in 2003, the company designs, manufactures and sells electric vehicles, including the Model S, Model 3, Model X, Model Y and Cybertruck. Tesla also develops vehicle software, driver-assistance features and related services intended to support the operation and ownership of its vehicles.
Beyond automobiles, Tesla produces energy storage products for residential, commercial and utility-scale applications, including the Powerwall and Megapack.
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