Diversified Trust Co Sells 4,312 Shares of Tesla, Inc. $TSLA

Diversified Trust Co lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,220 shares of the electric vehicle producer’s stock after selling 4,312 shares during the quarter. Diversified Trust Co’s holdings in Tesla were worth $13,561,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its stake in shares of 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 acquiring an additional 2,761,298 shares during the period. Legal & General Group Plc purchased a new position in shares of Tesla during the 2nd quarter worth approximately $8,535,612,000. Amundi increased its holdings in Tesla by 14.0% in the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock valued at $8,243,513,000 after purchasing an additional 2,727,141 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Tesla in the 2nd quarter valued at approximately $6,083,630,000. Finally, Bamco Inc. NY raised its position in Tesla by 5.0% in 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 purchasing an additional 591,243 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Top Tesla Stories

Here are a few of the latest stories about TSLA:

• Positive Sentiment: Finland’s provisional approval of Tesla’s driver-assistance system adds momentum to its European FSD expansion and could support future software revenue, though broader EU approval is still pending. Article: Finland approves Tesla driver assistance system
• Neutral Sentiment: Tesla’s robotaxi and autonomy plans remain a potential growth driver, but regulatory hurdles, costs and the challenge of building a profitable service leave execution uncertain. Article: Is Tesla Stock Worth Buying Now on Robotaxi and FSD Progress?
• Negative Sentiment: Tesla’s latest quarter showed flat year-over-year revenue, while SpaceX reportedly grew revenue 161%, raising questions about the relative growth and valuation of the businesses in a possible combination. GLJ Research also reaffirmed its sell rating. Article: Tesla and SpaceX Could Announce a Merger as Soon as December

Analysts Set New Price Targets

A number of research analysts have commented on TSLA shares. Wells Fargo & Company restated a “buy” rating on shares of Tesla in a research note on Thursday, October 1st. BNP Paribas Exane raised Tesla from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $266.00 to $420.00 in a research note on Thursday, October 22nd. Truist Financial set a $370.00 price objective on Tesla and gave the company a “hold” rating in a report on Thursday, July 23rd. Wall Street Zen lowered Tesla from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Finally, Stifel Nicolaus set a $475.00 target price on Tesla in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $414.51.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by corporate insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $390.22 on Friday. The company has a fifty day simple moving average of $374.75 and a two-hundred day simple moving average of $383.05. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 428.82, a price-to-earnings-growth ratio of 24.62 and a beta of 1.74. The company has a quick ratio of 1.39, a current ratio of 1.74 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $28.05 billion for the quarter, compared to analysts’ expectations of $28.06 billion. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 0.67 earnings per share for the current fiscal year.

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.