1,831 Tesla, Inc. $TSLA Shares Sold by Venture Visionary Partners LLC

Key Points

• Venture Visionary Partners reduced its Tesla stake by 3.7%, selling 1,831 shares during the third quarter and retaining 48,026 shares valued at approximately $17.04 million. Institutional investors collectively own 66.2% of Tesla.
• Analyst sentiment is mixed, with Tesla carrying a consensus “Hold” rating and an average price target of $412.19; ratings include 24 Buys, 17 Holds and five Sells.
• Tesla shares recently traded at $377.75, while the company’s latest quarterly revenue rose 25.5% year over year to $28.24 billion, though adjusted earnings of $0.33 per share missed the $0.50 consensus estimate.

Venture Visionary Partners LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,026 shares of the electric vehicle producer's stock after selling 1,831 shares during the quarter. Venture Visionary Partners LLC's holdings in Tesla were worth $17,040,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TSLA. Security National Bank of Sioux City Iowa IA bought a new position in Tesla in the 2nd quarter worth about $25,000. Friedenthal Financial lifted its stake in shares of Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 30 shares in the last quarter. Harborfront Financial Group LLC purchased a new stake in shares of Tesla during the second quarter valued at approximately $34,000. Montgomery Financial Services LLC bought a new stake in shares of Tesla during the second quarter valued at approximately $40,000. Finally, Lam Group Inc. purchased a new position in Tesla in the 1st quarter worth approximately $37,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. KeyCorp upgraded Tesla to a "sector weight" rating in a research note on Monday, September 28th. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a report on Monday, September 21st. Barclays upped their target price on shares of Tesla from $360.00 to $370.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 14th. Wells Fargo & Company reaffirmed a "buy" rating on shares of Tesla in a report on Thursday, October 1st. Finally, Stifel Nicolaus set a $491.00 price objective on shares of Tesla and gave the company a "buy" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $412.19.

Tesla Stock Performance

NASDAQ:TSLA traded down $2.93 on Wednesday, hitting $377.75. The stock had a trading volume of 25,516,788 shares, compared to its average volume of 51,476,348. The stock has a market cap of $1.49 trillion, a price-to-earnings ratio of 349.77, a price-to-earnings-growth ratio of 20.23 and a beta of 1.92. The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09. The business's 50-day simple moving average is $352.86 and its two-hundred day simple moving average is $377.14. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.17). The business had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%.Tesla's revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. As a group, research analysts predict that Tesla, Inc. will post 0.83 earnings per share for the current year.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Germany’s transport minister backed faster approval of Tesla’s supervised FSD system across the European Union, potentially expanding Tesla’s addressable software and autonomous-driving market. However, the broader EU decision has been delayed. Reuters article
• Positive Sentiment: IMC Logistics ordered 50 Tesla Semis for California port-dr अनुरage and regional freight routes. The order provides commercial validation for Tesla’s electric-truck strategy, although financial terms and delivery timing were not disclosed. Tesla Semi order article
• Positive Sentiment: UBS raised its Tesla price target to $391 from $385 while maintaining a Buy rating, citing a tactically favorable risk/reward setup after the recent selloff. UBS price-target article
• Positive Sentiment: Tesla’s third-quarter deliveries reportedly exceeded expectations by about 25,000 vehicles, reinforcing the view that demand may be stabilizing ahead of the company’s October 21 earnings report. Investors are also focused on robotaxi and FSD commercialization. Tesla delivery article

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction 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 transaction, the chief financial officer owned 25,972 shares in the company, valued at $9,353,296.36. This trade represents a 9.12% decrease in their position. The sale was disclosed in a legal filing 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. Insiders own 19.90% of the company's stock.

Tesla Company Profile

Tesla, Inc NASDAQ: TSLA designs, manufactures and sells electric vehicles, energy storage systems and solar energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y, Cybertruck and Tesla Semi. The company also develops vehicle software and driver-assistance features, operates a global Supercharger network and provides related vehicle services.

Tesla's energy business offers battery storage products for residential, commercial and utility customers, including Powerwall and Megapack, as well as solar panels and solar roofing products.

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