Glenview Trust Co Makes New $1.22 Million Investment in Tesla, Inc. $TSLA

Glenview Trust Co acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,274 shares of the electric vehicle producer's stock, valued at approximately $1,217,000.

Several other large investors also recently bought and sold shares of TSLA. North Star Asset Management Inc. lifted its stake in shares of Tesla by 1.5% during the second quarter. North Star Asset Management Inc. now owns 3,438 shares of the electric vehicle producer's stock worth $1,446,000 after buying an additional 50 shares during the period. Empowered Funds LLC increased its position in shares of Tesla by 10.5% in the 2nd quarter. Empowered Funds LLC now owns 201,519 shares of the electric vehicle producer's stock valued at $84,759,000 after acquiring an additional 19,163 shares during the period. United Capital Financial Advisors LLC increased its position in shares of Tesla by 0.3% in the 2nd quarter. United Capital Financial Advisors LLC now owns 112,891 shares of the electric vehicle producer's stock valued at $47,482,000 after acquiring an additional 348 shares during the period. Camarda Financial Advisors LLC purchased a new position in Tesla in the 2nd quarter worth $601,000. Finally, Dearborn Partners LLC acquired a new stake in Tesla during the 2nd quarter worth about $951,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 4.0%

TSLA stock opened at $368.16 on Wednesday. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83. 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 firm has a market cap of $1.45 trillion, a P/E ratio of 340.89, a PEG ratio of 17.88 and a beta of 1.84. The company's 50-day simple moving average is $356.02 and its 200-day simple moving average is $382.15.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The business had revenue of $28.24 billion during the quarter, compared to analyst estimates of $26.42 billion. During the same period in the previous year, the company posted $0.33 EPS. The business's revenue for the quarter was up 25.5% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 0.88 EPS for the current fiscal year.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Slovenia approved Tesla’s supervised Full Self-Driving system, becoming the sixth European country to authorize the technology. The decision could support wider European adoption and future high-margin software revenue. Slovenia clears Tesla FSD driver assistance
• Positive Sentiment: Goldman Sachs estimates Tesla’s Cybercab could operate for as much as $0.30 less per mile than competing autonomous vehicles if Tesla achieves its targeted $20,000–$30,000 production cost, strengthening the long-term robotaxi business case. Tesla Cybercab cost advantage
• Neutral Sentiment: Tesla has begun limited paid Cybercab rides in Austin, moving its steering-wheel-free robotaxi from concept toward commercial service. However, the small rollout provides little evidence yet regarding pricing, utilization, fleet growth or profitability. Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
• Negative Sentiment: The National Highway Traffic Safety Administration opened a probe into the certification and safety of nearly 1,000 Cybercabs, focusing on the vehicles’ lack of steering wheels and pedals. The investigation could delay expansion and increase regulatory costs. Cybercab certification regulatory probe
• Negative Sentiment: The Cybercab launch was viewed as muted because Tesla did not provide clear economics, production targets or a nationwide rollout schedule. Investors are also comparing Tesla’s limited Austin operation with Waymo’s much larger autonomous ride network. Tesla stock falls after Cybercab launch and NHTSA probe
• Negative Sentiment: Weak demand remains a concern: Tesla’s Chinese retail sales fell 12.4% in August, while European registrations were mixed. A viral video showing a person repeatedly triggering a Cybercab’s emergency braking also raised additional safety questions. Tesla sales in China

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TSLA shares. Citigroup restated a "market perform" rating on shares of Tesla in a research note on Monday, August 24th. Truist Financial set a $370.00 price target on shares of Tesla and gave the stock a "hold" rating in a report on Thursday, July 23rd. DZ Bank raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group initiated coverage on shares of Tesla in a report on Friday, June 5th. They issued a "buy" rating on the stock. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $401.74.

About Tesla

Tesla, Inc is an American technology and automotive company that designs, develops, manufactures and sells electric vehicles and related energy products. Its vehicle lineup has included the Model S, Model 3, Model X, Model Y and Cybertruck, along with commercial and specialty products such as the Tesla Semi.

The company also develops energy-generation and storage products, including solar panels, solar roofing systems and battery storage solutions for residential, commercial and utility customers.

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