Citizens & Northern Corp Acquires 3,602 Shares of Tesla, Inc. $TSLA

Key Points

• Citizens & Northern Corp opened a Tesla position in the third quarter, buying 3,602 shares valued at about $1.28 million. Institutional investors collectively owned 66.2% of Tesla’s stock.
• Analyst views were mixed, but MarketBeat reported a “Moderate Buy” consensus and an average price target of $414.51. Ratings included 26 Buys, 17 Holds, and four Sells.
• Tesla’s latest quarter beat earnings-per-share estimates by two cents, while revenue was slightly below forecasts and down 0.2% year over year. Shares opened at $397.45, and CFO Vaibhav Taneja sold shares to cover tax withholding on vested equity awards.

Citizens & Northern Corp acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,602 shares of the electric vehicle producer's stock, valued at approximately $1,278,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC grew its position in Tesla by 6.1% during the third quarter. Fisher Asset Management LLC now owns 37,587 shares of the electric vehicle producer's stock worth $13,336,000 after buying an additional 2,163 shares in the last quarter. Legacy Trust raised its holdings in Tesla by 67.0% in the 3rd quarter. Legacy Trust now owns 1,139 shares of the electric vehicle producer's stock valued at $404,000 after acquiring an additional 457 shares in the last quarter. Coston McIsaac & Partners raised its holdings in Tesla by 26.4% in the 3rd quarter. Coston McIsaac & Partners now owns 163 shares of the electric vehicle producer's stock valued at $58,000 after acquiring an additional 34 shares in the last quarter. Collaborative Wealth Managment Inc. lifted its position in shares of Tesla by 1.5% in the 3rd quarter. Collaborative Wealth Managment Inc. now owns 2,724 shares of the electric vehicle producer's stock worth $967,000 after acquiring an additional 40 shares during the period. Finally, IAG Wealth Partners LLC lifted its position in shares of Tesla by 7.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 458 shares of the electric vehicle producer's stock worth $163,000 after acquiring an additional 30 shares during the period. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BMO Capital Markets started coverage on Tesla in a research report on Monday, August 17th. They set an "outperform" rating on the stock. Glj Research restated a "sell" rating on shares of Tesla in a research note on Thursday, November 5th. BNP Paribas Exane raised Tesla from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $266.00 to $420.00 in a research report on Thursday, October 22nd. Citigroup reiterated a "neutral" rating on shares of Tesla in a research note on Wednesday, October 21st. Finally, Royal Bank Of Canada lowered shares of Tesla from an "outperform" rating to a "sector perform" rating in a report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $414.51.

Tesla News Roundup

Here's some of the latest news about TSLA:

• Positive Sentiment: Reports say Tesla and SpaceX have formed committees to assess an all-stock merger and that talks are advancing, with an announcement possible by December. The prospect of combining Tesla’s automotive and autonomy businesses with SpaceX has fueled optimism, though no agreement is confirmed and a deal could bring valuation and dilution risks. Article: SpaceX and Tesla Talks on Record Merger Are Said to Progress
• Positive Sentiment: Progress in autonomy offers another potential growth narrative: Finland approved Tesla’s assisted-driving system, adding to the countries permitting it ahead of a broader EU decision. Tesla also says its Robotaxi service now runs around the clock in active cities, and reports say its registered Texas fleet has surpassed Waymo’s. Commercial scale and profitability have yet to be demonstrated. Article: Finland approves Tesla's Assisted Driving system Article: Tesla Robotaxi 24/7 operations
• Neutral Sentiment: Tesla plans to wind down Cybertruck production by summer 2027 and shift Texas capacity toward Cybercab, while CEO Elon Musk says production will continue to address the existing backlog. The pivot could free resources for autonomy, but its payoff depends on Cybercab execution and demand. Article: Tesla's Plan to End Cybertruck Reveals Its Real Priorities

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on 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. The trade was a 9.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 owned by company insiders.

Tesla Stock Up 1.7%

Shares of TSLA opened at $397.45 on Friday. 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 company has a 50-day moving average price of $374.47 and a two-hundred day moving average price of $383.25. The stock has a market cap of $1.57 trillion, a price-to-earnings ratio of 436.76, a P/E/G ratio of 24.21 and a beta of 1.74. Tesla, Inc. has a 12 month low of $297.38 and a 12 month high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The company had revenue of $28.05 billion for the quarter, compared to analyst estimates of $28.06 billion. During the same period in the prior year, the company posted $0.50 EPS. The company's revenue was down .2% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 0.67 EPS for the current fiscal year.

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.

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