Tesla, Inc. $TSLA Position Lifted by Alta Advisers Ltd

Alta Advisers Ltd raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 85.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,224 shares of the electric vehicle producer's stock after purchasing an additional 9,312 shares during the quarter. Tesla accounts for 1.0% of Alta Advisers Ltd's portfolio, making the stock its 15th largest holding. Alta Advisers Ltd's holdings in Tesla were worth $7,176,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legacies Wealth LLC boosted its position in shares of Tesla by 43.7% during the third quarter. Legacies Wealth LLC now owns 819 shares of the electric vehicle producer's stock worth $291,000 after buying an additional 249 shares during the period. Ullmann Wealth Partners Group LLC raised its position in Tesla by 5.2% in the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 3,199 shares of the electric vehicle producer's stock valued at $1,135,000 after buying an additional 157 shares during the last quarter. Westside Investment Management Inc. raised its position in Tesla by 137.5% in the 3rd quarter. Westside Investment Management Inc. now owns 9,214 shares of the electric vehicle producer's stock valued at $3,377,000 after buying an additional 5,335 shares during the last quarter. Principle Wealth Partners LLC lifted its stake in Tesla by 3.3% in the 3rd quarter. Principle Wealth Partners LLC now owns 23,769 shares of the electric vehicle producer's stock valued at $8,434,000 after acquiring an additional 757 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in Tesla by 2.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 330,606 shares of the electric vehicle producer's stock valued at $117,302,000 after acquiring an additional 9,255 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. BMO Capital Markets began coverage on Tesla in a research report on Monday, August 17th. They set an "outperform" rating for the company. Truist Financial set a $370.00 price objective on shares of Tesla and gave the stock a "hold" rating in a research report on Thursday, July 23rd. BNP Paribas Exane upgraded shares of Tesla from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $266.00 to $420.00 in a report on Thursday, October 22nd. Roth Capital restated a "buy" rating and set a $505.00 target price on shares of Tesla in a report on Thursday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Tesla in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Tesla presently has a consensus rating of "Moderate Buy" and a consensus price target of $414.51.

Tesla Trading Down 10.8%

Shares of NASDAQ:TSLA opened at $343.69 on Friday. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83. 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 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 50-day simple moving average of $372.07 and a 200 day simple moving average of $384.65.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.02. The firm had revenue of $28.05 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 0.67 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company's 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 transaction, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.

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 Company Profile

Tesla, Inc is an electric vehicle and clean energy company headquartered in Austin, Texas. Founded in 2003, the company designs, manufactures and sells electric vehicles, including the Model S, Model 3, Model X, Model Y and Cybertruck. Tesla also develops vehicle software, driver-assistance features and related services intended to support the operation and ownership of its vehicles.

Beyond automobiles, Tesla produces energy storage products for residential, commercial and utility-scale applications, including the Powerwall and Megapack.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.