Brooklyn FI LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 172.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,239 shares of the electric vehicle producer’s stock after buying an additional 1,417 shares during the quarter. Brooklyn FI LLC’s holdings in Tesla were worth $862,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Philadelphia Trust Co. boosted its holdings in Tesla by 56.8% during the 3rd quarter. Philadelphia Trust Co. now owns 5,521 shares of the electric vehicle producer’s stock valued at $1,959,000 after acquiring an additional 2,000 shares during the period. Moneco Advisors LLC grew its position in Tesla by 3.9% in the 3rd quarter. Moneco Advisors LLC now owns 13,434 shares of the electric vehicle producer’s stock valued at $4,766,000 after acquiring an additional 502 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in Tesla by 4.6% in the third quarter. Cornerstone Wealth Management LLC now owns 19,602 shares of the electric vehicle producer’s stock worth $6,955,000 after purchasing an additional 870 shares during the period. Narwhal Capital Management increased its stake in Tesla by 21.3% in the third quarter. Narwhal Capital Management now owns 9,602 shares of the electric vehicle producer’s stock worth $3,407,000 after purchasing an additional 1,689 shares during the period. Finally, Triton Wealth Management PLLC lifted its position in shares of Tesla by 12.0% during the third quarter. Triton Wealth Management PLLC now owns 21,286 shares of the electric vehicle producer’s stock worth $7,552,000 after purchasing an additional 2,289 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.
Trending Headlines about Tesla
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla is expanding its robotaxi service to San Antonio, adding another Texas market as it seeks to build a business beyond vehicle sales. Tesla expands robotaxi service to San Antonio
- Positive Sentiment: A report said Tesla attracted $96.8 million in ETF capital, which may provide some support for shares, although ETF flows do not necessarily reflect a change in the company’s fundamentals. Tesla pulls in ETF capital
- Neutral Sentiment: Tesla has started work on a proposed $10 billion solar factory near Houston, a potentially significant expansion into solar manufacturing, but one that also entails substantial investment and execution risk. Tesla’s Project Crystal Sun
- Neutral Sentiment: A hedge fund has urged Tesla and SpaceX to combine, but this is an outside proposal—not confirmation that a merger will happen. Any potential effect on Tesla shareholders remains uncertain. Sargasso Capital Management’s Project Kepler
- Negative Sentiment: Tesla’s October retail sales in China reportedly fell to their lowest level since 2022, raising concerns about demand in a key market and the company’s year-end sales targets. Tesla’s China sales hit lowest since 2022
- Negative Sentiment: Elon Musk says Cybertruck production is expected to end in about eight months so capacity can be redirected to Cybercab, with many reservation holders due refunds. The pivot may advance Tesla’s autonomy ambitions, but it also highlights the uncertainty around Cybertruck production and customer orders. Tesla Cybertruck is EV pickup market’s latest casualty
- Negative Sentiment: A Tesla shareholder warned that political and regulatory opposition could hinder autonomous-vehicle deployment, putting a central part of the company’s growth narrative at risk. Autonomy faces potential political risk
Analysts Set New Price Targets
TSLA has been the topic of a number of research analyst reports. Robert W. Baird set a $475.00 price target on shares of Tesla in a report on Monday, July 27th. Oppenheimer initiated coverage on shares of Tesla in a report on Thursday, October 22nd. They set an “outperform” rating for the company. CLSA reissued an “underperform” rating on shares of Tesla in a research report on Monday, October 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Tesla in a research note on Monday, October 26th. They issued a “buy” rating on the stock. Finally, UBS Group raised shares of Tesla from a “neutral” rating to a “buy” rating in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Moderate Buy” and a consensus target price of $414.51.
Read Our Latest Report on Tesla
Tesla Stock Up 0.5%
Shares of TSLA opened at $379.78 on Wednesday. The firm has a market cap of $1.50 trillion, a P/E ratio of 517.88, a price-to-earnings-growth ratio of 23.42 and a beta of 1.74. Tesla, Inc. has a 12-month low of $297.38 and a 12-month high of $498.83. The company’s 50-day moving average price is $372.97 and its 200 day moving average price is $383.73. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its 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 company had revenue of $28.05 billion during the quarter, compared to analyst estimates of $28.06 billion. During the same quarter last year, the firm posted $0.50 earnings per share. Tesla’s revenue was down .2% compared to the same quarter last year. On average, sell-side analysts forecast that Tesla, Inc. will post 0.67 earnings per share for the current year.
Insider Activity at Tesla
In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total transaction 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 approximately $9,353,296.36. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.
Tesla Profile
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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