18,097 Tesla, Inc. $TSLA Shares Bought by Trek Financial LLC

Trek Financial LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 128.4% in the third quarter, Holdings Channel reports. The institutional investor owned 32,186 shares of the electric vehicle producer’s stock after buying an additional 18,097 shares during the quarter. Trek Financial LLC’s holdings in Tesla were worth $11,420,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. State Street Corp boosted its holdings in Tesla by 2.4% in the 2nd quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer’s stock valued at $49,402,312,000 after purchasing an additional 2,761,298 shares during the period. Amundi grew its position 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 purchasing an additional 2,727,141 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Tesla during the 2nd quarter worth about $8,535,612,000. Bank of New York Mellon Corp bought a new position in shares of Tesla during the 2nd quarter worth about $6,083,630,000. Finally, Bamco Inc. NY raised its position in shares of Tesla by 5.0% during the second 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 last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. UBS Group upgraded shares of Tesla from a “neutral” rating to a “buy” rating in a research note on Monday, October 26th. Piper Sandler restated an “overweight” rating and set a $475.00 price target (up from $450.00) on shares of Tesla in a research note on Thursday, October 22nd. Yorkville Ives assumed coverage on Tesla in a report on Wednesday, October 7th. They set an “outperform” rating and a $500.00 price objective for the company. Morgan Stanley raised shares of Tesla from a “reduce” rating to an “overweight” rating in a research note on Monday, October 26th. Finally, Mizuho upped their target price on shares of Tesla from $450.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $414.51.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: European sales showed meaningful improvement in October: Tesla registrations rose 248% year over year in Sweden, 131% in Norway and 34% in Denmark. The gains suggest Tesla may be beginning to recover from its prolonged global sales slump. Tesla registrations surge across Northern Europe in October
• Positive Sentiment: Tesla’s Cybercab and robotaxi expansion remains a major part of the bullish investment case. New or expanded operations in Texas, Nevada and other U.S. markets could create higher-margin, recurring software and mobility revenue if Tesla reaches its targeted operating cost of roughly $0.30 per paid mile. Cybercab Expansion Might Change the Case for Investing in Tesla Stock
• Neutral Sentiment: Tesla may be reconsidering a larger role for Taiwan Semiconductor Manufacturing Co. in its Texas Terafab chip project. TSMC’s manufacturing expertise could improve execution, although the report also suggests Tesla may have less direct control over a strategically important initiative. Tesla’s Terafab May Reportedly Lean on TSMC After All
• Neutral Sentiment: Reports that Tesla and SpaceX are exploring a combination continue to generate speculative upside scenarios, but the transaction would require agreement on valuation, exchange terms and shareholder approval. The potential deal is not yet a completed corporate action. Barclays Says a SpaceX Merger Is Now a Key Part of the Tesla Bull Case
• Negative Sentiment: Investor Gary Black says Tesla’s U.S. EV share has fallen from approximately 80% to 52% as smaller and lesser-known rivals gain ground. His call for stronger marketing highlights competitive pressure and could weigh on confidence in Tesla’s ability to justify its very high valuation. Gary Black Says Tesla Is Losing EV Share
• Negative Sentiment: BYD, Xiaomi and XPeng reported strong October sales in China, reinforcing the threat from increasingly capable local competitors. That pressure is especially important because Tesla trades at a substantial earnings premium despite modest profitability and recently declining revenue. Tesla China EV Rivals Report Strong Sales

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the sale, the chief financial officer owned 25,972 shares of the company’s stock, valued at $9,353,296.36. This trade represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 Price Performance

Shares of NASDAQ TSLA opened at $399.81 on Monday. The stock has a market cap of $1.58 trillion, a P/E ratio of 439.36, a P/E/G ratio of 24.77 and a beta of 1.74. The firm has a 50 day moving average price of $369.61 and a 200 day moving average price of $385.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLA) last posted 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. The company 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 for the quarter was down .2% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. Analysts expect that Tesla, Inc. will post 0.67 EPS for the current year.

About Tesla

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.