Phoenix Financial Ltd. Purchases 7,564 Shares of Tesla, Inc. $TSLA

Key Points

• Phoenix Financial increased its Tesla stake by 12.4% in the third quarter, adding 7,564 shares to hold 68,449 shares valued at about $24.3 million.
• Tesla shares fell 1.8% to $390.22 on Friday. The company narrowly beat quarterly EPS expectations ($0.48 versus $0.46), while revenue of $28.05 billion was slightly below forecasts and down 0.2% year over year.
• Analyst sentiment was broadly positive, with a consensus “Moderate Buy” rating and a $414.51 price target. Recent target increases included Piper Sandler at $475 and Barclays at $450, while RBC lowered its rating to “sector perform.”

Phoenix Financial Ltd. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,449 shares of the electric vehicle producer's stock after acquiring an additional 7,564 shares during the period. Phoenix Financial Ltd.'s holdings in Tesla were worth $24,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. State Street Corp grew its stake in shares of Tesla by 2.4% in the second quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer's stock worth $49,402,312,000 after purchasing an additional 2,761,298 shares during the last quarter. Legal & General Group Plc purchased a new position in Tesla during the 2nd quarter valued at about $8,535,612,000. Amundi raised its position in Tesla by 14.0% during the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer's stock valued at $8,243,513,000 after purchasing an additional 2,727,141 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Tesla during the 2nd quarter valued at approximately $6,083,630,000. Finally, Bamco Inc. NY lifted its holdings in Tesla by 5.0% in the 2nd quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer's stock worth $5,267,911,000 after buying an additional 591,243 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 20.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSLA. Piper Sandler reiterated an "overweight" rating and issued a $475.00 price objective (up from $450.00) on shares of Tesla in a research report on Thursday, October 22nd. BNP Paribas Exane upgraded Tesla from an "underperform" rating to a "neutral" rating and upped their target price for the company from $266.00 to $420.00 in a report on Thursday, October 22nd. Barclays raised Tesla from an "outperform" rating to an "overweight" rating and raised their price target for the stock from $370.00 to $450.00 in a research note on Monday, October 26th. Monness Crespi & Hardt started coverage on Tesla in a research note on Monday, October 26th. They issued a "buy" rating for the company. Finally, Royal Bank Of Canada cut shares of Tesla from an "outperform" rating to a "sector perform" rating in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seventeen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of "Moderate Buy" and a consensus price target of $414.51.

Key Headlines Impacting Tesla

Investors following TSLA have been watching these headlines:

• Positive Sentiment: Finland’s provisional approval of Tesla’s driver-assistance system adds momentum to its European FSD expansion and could support future software revenue, though broader EU approval is still pending. Article: Finland approves Tesla driver assistance system
• Neutral Sentiment: Tesla’s robotaxi and autonomy plans remain a potential growth driver, but regulatory hurdles, costs and the challenge of building a profitable service leave execution uncertain. Article: Is Tesla Stock Worth Buying Now on Robotaxi and FSD Progress?
• Negative Sentiment: The potential merger faces political headwinds: Texas’ attorney general-elect has pledged “tremendous scrutiny,” and another report flags possible Democratic opposition. Added review could delay or complicate a deal. Article: Texas AG-elect vows scrutiny of SpaceX-Tesla merger

Tesla Stock Down 1.8%

Shares of TSLA traded down $7.23 during trading hours on Friday, hitting $390.22. The company had a trading volume of 32,239,788 shares, compared to its average volume of 40,913,836. The firm has a fifty day moving average price of $374.75 and a 200-day moving average price of $383.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74. The stock has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 428.82, a P/E/G ratio of 24.62 and a beta of 1.74. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The company had revenue of $28.05 billion for the quarter, compared to the consensus estimate of $28.06 billion. During the same period in the prior year, the firm posted $0.50 EPS. Tesla's revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 0.67 EPS for the current fiscal year.

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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