Fifth Third Bancorp lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.4% in the third quarter, HoldingsChannel reports. The fund owned 761,037 shares of the electric vehicle producer’s stock after selling 11,129 shares during the period. Fifth Third Bancorp’s holdings in Tesla were worth $270,023,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bamco Inc. NY raised its stake in Tesla by 5.0% during the 2nd quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer’s stock worth $5,267,911,000 after buying an additional 591,243 shares during the period. One Plus One Wealth Management LLC bought a new stake in shares of Tesla during the second quarter worth $1,009,000. Bessemer Group Inc. lifted its position in Tesla by 23.6% in the 1st quarter. Bessemer Group Inc. now owns 56,240 shares of the electric vehicle producer’s stock valued at $20,908,000 after acquiring an additional 10,747 shares in the last quarter. H&H International Investment LLC bought a new position in Tesla during the 1st quarter worth about $1,267,259,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Tesla by 12.4% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 43,600 shares of the electric vehicle producer’s stock valued at $15,470,000 after purchasing an additional 4,806 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other 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 directly owned 25,972 shares in the company, valued at approximately $9,353,296.36. The trade was a 9.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is currently owned by corporate insiders.
Tesla News Roundup
Here’s some of the latest news about TSLA:
- Positive Sentiment: Finland approved Tesla’s supervised driver-assistance system for use on its roads. The decision could help Tesla build momentum in Europe, though broader EU approval is still pending and the system may face limitations. Reuters: Finland approves Tesla’s Assisted Driving system
- Positive Sentiment: Elon Musk said Cybertruck production will continue through summer 2027 to help clear a backlog, extending the truck’s run beyond the previously discussed wind-down timeline. This suggests demand remains ahead of current production, although Tesla still plans to shift factory capacity toward its Cybercab robotaxi. CBS News: Tesla extends Cybertruck production to clear backlog
- Negative Sentiment: Jefferies downgraded Tesla from “strong buy” to “hold,” adding a cautious analyst signal amid concerns about the company’s outlook and valuation.
Tesla Price Performance
Shares of Tesla stock opened at $390.82 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.74 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 429.48, a price-to-earnings-growth ratio of 23.53 and a beta of 1.74. Tesla, Inc. has a twelve month low of $297.38 and a twelve month high of $498.83. The company has a 50-day simple moving average of $373.66 and a two-hundred day simple moving average of $383.44.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $28.05 billion for the quarter, compared to analyst estimates of $28.06 billion. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. Analysts forecast that Tesla, Inc. will post 0.67 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts have commented on the company. BNP Paribas Exane upgraded Tesla from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $266.00 to $420.00 in a research note on Thursday, October 22nd. Yorkville Ives initiated coverage on shares of Tesla in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $500.00 price target on the stock. Morgan Stanley upgraded Tesla from a “reduce” rating to an “overweight” rating in a report on Monday, October 26th. KeyCorp raised shares of Tesla to a “sector weight” rating in a research note on Monday, September 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $414.51.
Read Our Latest Research Report on Tesla
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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