6,548 Tesla, Inc. $TSLA Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners cut its Tesla stake by 6.1%, selling 6,548 shares in the third quarter. It retained 101,375 shares, valued at about $36 million.
• Analyst ratings skew positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $414.51, based on 48 analysts’ ratings.
• Tesla’s latest quarterly results narrowly beat EPS expectations at $0.48 per share, while revenue of $28.05 billion was slightly below consensus and down 0.2% year over year.

Riverbridge Partners LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 101,375 shares of the electric vehicle producer's stock after selling 6,548 shares during the quarter. Tesla accounts for approximately 1.1% of Riverbridge Partners LLC's holdings, making the stock its 29th largest holding. Riverbridge Partners LLC's holdings in Tesla were worth $35,969,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Silver Grove Financial Group Inc. increased its holdings in shares of Tesla by 4.1% during the third quarter. Silver Grove Financial Group Inc. now owns 3,180 shares of the electric vehicle producer's stock valued at $1,128,000 after acquiring an additional 124 shares in the last quarter. Davis Investment Partners LLC boosted its stake in Tesla by 6.7% in the 3rd quarter. Davis Investment Partners LLC now owns 767 shares of the electric vehicle producer's stock worth $272,000 after purchasing an additional 48 shares in the last quarter. Northbridge Financial Group LLC boosted its stake in Tesla by 12.6% in the 3rd quarter. Northbridge Financial Group LLC now owns 11,011 shares of the electric vehicle producer's stock worth $4,192,000 after purchasing an additional 1,228 shares in the last quarter. Brooklyn FI LLC grew its position in Tesla by 172.4% during the 3rd quarter. Brooklyn FI LLC now owns 2,239 shares of the electric vehicle producer's stock worth $862,000 after purchasing an additional 1,417 shares during the last quarter. Finally, Philadelphia Trust Co. grew its position in Tesla by 56.8% during the 3rd quarter. Philadelphia Trust Co. now owns 5,521 shares of the electric vehicle producer's stock worth $1,959,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen started coverage on shares of Tesla in a research note on Monday, October 26th. They set a "hold" rating on the stock. Oppenheimer assumed coverage on shares of Tesla in a research note on Thursday, October 22nd. They set an "outperform" rating for the company. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research report on Thursday, October 22nd. UBS Group upgraded Tesla from a "neutral" rating to a "buy" rating in a research note on Monday, October 26th. Finally, Stifel Nicolaus set a $475.00 price target on Tesla in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $414.51.

Tesla News Roundup

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

Tesla Stock Performance

TSLA opened at $379.78 on Wednesday. Tesla, Inc. has a 12-month low of $297.38 and a 12-month high of $498.83. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.50 trillion, a PE ratio of 417.35, a P/E/G ratio of 23.42 and a beta of 1.74. The firm has a 50 day moving average of $372.97 and a two-hundred day moving average of $383.73.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 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 the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. On average, analysts anticipate that Tesla, Inc. will post 0.67 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 25,972 shares of the company's stock, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 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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