NorthCrest Asset Manangement LLC Buys 5,388 Shares of Tesla, Inc. $TSLA

Key Points

• NorthCrest Asset Management increased its Tesla position by 39.2% in the third quarter, purchasing 5,388 shares and ending the period with 19,146 shares valued at approximately $7.18 million. Institutional investors and hedge funds collectively own 66.2% of Tesla.
• Tesla shares opened at $375.23, with a market capitalization of about $1.48 trillion and a very high P/E ratio of 347.44. The company’s latest quarterly revenue rose 25.5% year over year to $28.24 billion, but EPS of $0.33 missed analyst expectations of $0.50.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $412.33. Positive catalysts include stronger-than-expected deliveries and growth in China, while high spending, elevated valuation, regulatory scrutiny and weak Cybertruck demand pose risks.

NorthCrest Asset Manangement LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 39.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,146 shares of the electric vehicle producer's stock after buying an additional 5,388 shares during the period. NorthCrest Asset Manangement LLC's holdings in Tesla were worth $7,180,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TSLA. DWR Wealth Management LLC increased its position in shares of Tesla by 10.3% during the third quarter. DWR Wealth Management LLC now owns 834 shares of the electric vehicle producer's stock worth $294,000 after acquiring an additional 78 shares in the last quarter. Perpetual Ltd lifted its position in Tesla by 3.0% in the 3rd quarter. Perpetual Ltd now owns 16,350 shares of the electric vehicle producer's stock valued at $5,801,000 after acquiring an additional 475 shares in the last quarter. JGP Wealth Management LLC lifted its position in Tesla by 2.6% in the 3rd quarter. JGP Wealth Management LLC now owns 4,152 shares of the electric vehicle producer's stock valued at $1,473,000 after acquiring an additional 105 shares in the last quarter. Integrated Financial Solutions Inc. boosted its stake in Tesla by 5.0% during the 3rd quarter. Integrated Financial Solutions Inc. now owns 2,425 shares of the electric vehicle producer's stock valued at $860,000 after purchasing an additional 115 shares during the last quarter. Finally, Marquette Asset Management LLC boosted its stake in Tesla by 46.1% during the 3rd quarter. Marquette Asset Management LLC now owns 225 shares of the electric vehicle producer's stock valued at $80,000 after purchasing an additional 71 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 0.7%

TSLA stock opened at $375.23 on Wednesday. The stock's fifty day simple moving average is $357.69 and its two-hundred day simple moving average is $377.09. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 1-year low of $297.38 and a 1-year high of $498.83. The stock has a market cap of $1.48 trillion, a P/E ratio of 347.44, a P/E/G ratio of 23.17 and a beta of 1.92.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.17). The business had revenue of $28.24 billion for the quarter, compared to analysts' expectations of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company's revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. Analysts expect that Tesla, Inc. will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Oppenheimer reissued a "market perform" rating on shares of Tesla in a research note on Monday, September 21st. TD Cowen restated a "buy" rating on shares of Tesla in a report on Friday, August 14th. HSBC reaffirmed a "reduce" rating and set a $157.00 target price on shares of Tesla in a research report on Monday, October 5th. Robert W. Baird set a $475.00 price target on Tesla in a research report on Monday, July 27th. Finally, Roth Capital restated a "buy" rating and set a $505.00 price objective on shares of Tesla in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $412.33.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the transaction, the chief financial officer owned 25,972 shares in the company, 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 filing 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. Company insiders own 19.90% of the company's stock.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s third-quarter deliveries totaled 486,532 vehicles, exceeding Wall Street’s estimate of approximately 462,000 and helping drive the recent rebound in the shares. However, deliveries remained below the prior-year period. Tesla Trades at 219x Earnings
• Positive Sentiment: China-made vehicle sales increased 5% in September, extending Tesla’s growth streak in China to 11 months, supported by overseas shipments and price incentives. Tesla China EV Sales Growth
• Positive Sentiment: Jefferies raised its Tesla price target to $400 from $350, citing resilient deliveries and improving prospects for energy, services and other nonautomotive businesses, although it retained a Hold rating. Jefferies Raises Tesla Price Target
• Positive Sentiment: Tesla is expanding its Austin robotaxi fleet and showcasing the Cybercab and driver-assistance technology at the Paris Motor Show, providing potential catalysts for its autonomy strategy. Tesla Robotaxi Lands in Paris
• Neutral Sentiment: Investors are looking ahead to Tesla’s October 21 earnings report, focusing on automotive margins, profitability, capital spending and growth in energy storage and services. Tesla Q3 Earnings Preview
• Negative Sentiment: Analysts have lowered Tesla’s target as concerns grow over approximately $25 billion in planned spending and rising operating costs. The company’s very high earnings multiple also makes the stock vulnerable to weak profits or disappointing guidance. Tesla Target Lowered Over Spending
• Negative Sentiment: U.S. regulators are investigating allegations that Tesla robotaxis exceeded speed limits in active school zones, adding uncertainty to the company’s autonomous-driving rollout. Tesla Robotaxi School-Zone Investigation
• Negative Sentiment: Tesla stopped taking orders in Canada for its two least expensive China-built Model 3 variants, citing import restrictions. The move could limit access to lower-priced vehicles in an important market. Tesla Stops Canadian Model 3 Orders
• Negative Sentiment: New data suggests Cybertruck sales remain far below Elon Musk’s earlier targets, while competition from BYD, European automakers, Lucid and autonomous-driving rivals continues to challenge Tesla’s growth narrative. Cybertruck Deliveries

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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