Narwhal Capital Management Purchases 1,689 Shares of Tesla, Inc. $TSLA

Key Points

• Narwhal Capital Management increased its Tesla stake 21.3% in the third quarter, buying 1,689 shares and ending the period with 9,602 shares valued at about $3.4 million.
• Tesla’s latest quarterly EPS of $0.48 topped estimates, while revenue of $28.05 billion was slightly below expectations and down 0.2% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $414.51; the article also highlighted risks including weak October China sales and uncertainty around Cybertruck production and autonomous-vehicle deployment.

Narwhal Capital Management raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,602 shares of the electric vehicle producer's stock after purchasing an additional 1,689 shares during the quarter. Narwhal Capital Management's holdings in Tesla were worth $3,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TSLA. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Tesla in the 2nd quarter worth approximately $25,000. Harborfront Financial Group LLC bought a new position in shares of Tesla during the 2nd quarter valued at $34,000. Montgomery Financial Services LLC purchased a new position in Tesla in the 2nd quarter worth $40,000. Timbuktu Capital Management LLC purchased a new position in Tesla in the 2nd quarter worth $42,000. Finally, Navigoe LLC purchased a new position in Tesla in the 2nd quarter worth $45,000. Institutional investors own 66.20% of the company's stock.

Key Headlines Impacting Tesla

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

Insiders Place Their Bets

In related 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 value of $938,498.78. Following the sale, the chief financial officer owned 25,972 shares in the company, valued at $9,353,296.36. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is currently owned by company insiders.

Tesla Trading Up 0.5%

NASDAQ:TSLA opened at $379.78 on Wednesday. The company has a fifty day moving average of $372.97 and a 200 day moving average of $383.73. 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 1.39, a current ratio of 1.74 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 417.35, a P/E/G ratio of 23.42 and a beta of 1.74.

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, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $28.05 billion during the quarter, compared to analysts' expectations of $28.06 billion. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The business's revenue was down .2% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. On average, research analysts predict that Tesla, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, October 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Tesla in a research note on Monday, October 19th. Yorkville Ives started coverage on Tesla in a report on Wednesday, October 7th. They issued an "outperform" rating and a $500.00 price objective on the stock. Canaccord Genuity Group set a $442.00 target price on Tesla and gave the company a "buy" rating in a research note on Thursday, October 22nd. Finally, Jefferies Financial Group upgraded Tesla from a "hold" rating to a "buy" rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $414.51.

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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