Tesla, Inc. $TSLA Stock Acquired by Narwhal Capital Management

Narwhal Capital Management grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,602 shares of the electric vehicle producer’s stock after acquiring an additional 1,689 shares during the period. Narwhal Capital Management’s holdings in Tesla were worth $3,407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in shares of Tesla in the 2nd quarter valued at approximately $8,535,612,000. Bank of New York Mellon Corp bought a new stake in shares of Tesla during the second quarter valued at approximately $6,083,630,000. Deutsche Bank AG bought a new stake in shares of Tesla during the second quarter valued at approximately $4,039,090,000. Canada Pension Plan Investment Board bought a new stake in shares of Tesla during the second quarter valued at approximately $3,144,509,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Tesla in the second quarter worth $2,995,584,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Mizuho increased their price objective on Tesla from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Royal Bank Of Canada cut shares of Tesla from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Monday, October 19th. Finally, HSBC reiterated a “reduce” rating and issued a $157.00 price target on shares of Tesla in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $414.51.

Tesla Stock Up 0.5%

TSLA stock opened at $379.78 on Wednesday. Tesla, Inc. has a twelve month low of $297.38 and a twelve month high of $498.83. 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 firm has a market cap of $1.50 trillion, a PE ratio of 417.35, a price-to-earnings-growth ratio of 23.42 and a beta of 1.74. The business has a 50 day moving average of $372.97 and a 200 day moving average of $383.73.

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 analysts’ consensus estimates of $0.46 by $0.02. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The business had revenue of $28.05 billion during the quarter, compared to analysts’ expectations of $28.06 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 0.67 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was 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 directly owned 25,972 shares in the company, valued at $9,353,296.36. This trade represents a 9.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.

More Tesla News

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

About Tesla

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.