Tesla, Inc. $TSLA Holdings Increased by Westside Investment Management Inc.

Key Points

• Westside Investment Management increased its Tesla stake by 137.5% in the third quarter, adding 5,335 shares to hold 9,214 shares valued at about $3.38 million.
• Institutional investors own 66.2% of Tesla shares, with several large firms reporting increased positions or new holdings.
• Tesla reported quarterly EPS of $0.48, above estimates of $0.46, but revenue was slightly below expectations and fell 0.2% year over year. The article also notes the stock was down 10.8% and trades at a high P/E ratio of about 378.

Westside Investment Management Inc. grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 137.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,214 shares of the electric vehicle producer's stock after purchasing an additional 5,335 shares during the quarter. Westside Investment Management Inc.'s holdings in Tesla were worth $3,377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp increased its holdings in Tesla by 2.4% in the second quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer's stock valued at $49,402,312,000 after purchasing an additional 2,761,298 shares during the last quarter. Legal & General Group Plc bought a new position in Tesla during the second quarter worth about $8,535,612,000. Amundi boosted its holdings in Tesla by 14.0% during the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer's stock worth $8,243,513,000 after buying an additional 2,727,141 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Tesla during the 2nd quarter worth about $6,083,630,000. Finally, Bamco Inc. NY grew its position in shares of Tesla by 5.0% during 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 currently owned by institutional investors.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla registrations reportedly jumped in several European markets, including a 248% increase in Sweden, as higher fuel prices may be encouraging EV purchases. However, Chinese rivals are also gaining ground. Tesla registrations in Europe
• Neutral Sentiment: Tesla opened a Berlin engineering center and has expanded its Robotaxi service to Fort Worth, with FSD subscriptions reportedly above 1.7 million. These are potential longer-term growth drivers, but investors are questioning how much of the autonomy opportunity is already reflected in the stock’s valuation. Tesla opens Berlin engineering center Robotaxi valuation
• Negative Sentiment: The main near-term catalyst is the Democratic sweep in the midterms, including gains in Texas. Investors fear increased investigations and stricter oversight could complicate Tesla’s data-center and AI ambitions, while also adding uncertainty to a possible Tesla–SpaceX merger. Election results and Tesla’s outlook
• Negative Sentiment: Merger concerns are compounded by possible dilution: investor Gary Black warned that a reported premium in an all-stock deal could quickly disappear if the companies’ shares fall. Investor warns on merger premium
• Negative Sentiment: Investors are also weighing Tesla’s elevated valuation against pressured earnings and margins and rising spending. GLJ Research reaffirmed its “sell” rating, reinforcing concerns that expectations for Robotaxi and Optimus may be running ahead of current results. GLJ Research rating

Tesla Stock Down 10.8%

Shares of Tesla stock opened at $343.69 on Friday. Tesla, Inc. has a 1 year low of $297.38 and a 1 year high of $498.83. The business has a 50-day moving average of $372.07 and a two-hundred day moving average of $384.65. The company has a market capitalization of $1.36 trillion, a P/E ratio of 377.69, a price-to-earnings-growth ratio of 23.86 and a beta of 1.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.74 and a quick ratio of 1.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the firm posted $0.50 earnings per share. Tesla's revenue was down .2% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 0.67 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the sale, the chief financial officer directly owned 25,972 shares of the company's stock, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their position. The transaction was disclosed in a document filed 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. Insiders own 20.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on TSLA shares. Oppenheimer initiated coverage on Tesla in a research note on Thursday, October 22nd. They issued an "outperform" rating for the company. Robert W. Baird set a $475.00 price objective on shares of Tesla in a research note on Monday, July 27th. Citigroup restated a "neutral" rating on shares of Tesla in a report on Wednesday, October 21st. Stifel Nicolaus set a $475.00 target price on shares of Tesla in a research note on Thursday, October 22nd. Finally, Wall Street Zen lowered shares of Tesla from a "hold" rating to a "sell" rating in a report on Saturday, October 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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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