Tesla, Inc. $TSLA Position Reduced by Balentine LLC

Key Points

• Balentine LLC cut its Tesla stake by 55.1% in the third quarter, selling 1,965 shares and ending the period with 1,604 shares valued at about $569,000.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $414.51. Tesla reported quarterly EPS of $0.48, above estimates, while revenue of $28.05 billion was slightly below expectations and down 0.2% year over year.
• Tesla plans to wind down Cybertruck production at its Texas factory around mid-2027 to make room for Cybercab robotaxis, though the article notes Cybertruck demand challenges and uncertainty around the Cybercab’s commercial prospects.

Balentine LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 55.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,604 shares of the electric vehicle producer's stock after selling 1,965 shares during the period. Balentine LLC's holdings in Tesla were worth $569,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Ethos Capital Management Inc. increased its stake in Tesla by 19.8% in the 3rd quarter. Ethos Capital Management Inc. now owns 5,229 shares of the electric vehicle producer's stock worth $1,855,000 after acquiring an additional 865 shares during the last quarter. Allen Investment Management LLC raised its holdings in shares of Tesla by 104.7% during the 3rd quarter. Allen Investment Management LLC now owns 2,798 shares of the electric vehicle producer's stock worth $993,000 after acquiring an additional 1,431 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Tesla by 0.7% during the 3rd quarter. Parallel Advisors LLC now owns 83,456 shares of the electric vehicle producer's stock valued at $29,611,000 after acquiring an additional 573 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Tesla by 1.0% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 9,252 shares of the electric vehicle producer's stock valued at $3,283,000 after acquiring an additional 96 shares during the last quarter. Finally, Abacus Wealth Partners LLC boosted its position in shares of Tesla by 154.6% during the 3rd quarter. Abacus Wealth Partners LLC now owns 8,210 shares of the electric vehicle producer's stock valued at $2,913,000 after acquiring an additional 4,985 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, October 22nd. Yorkville Ives started coverage on shares of Tesla in a research note on Wednesday, October 7th. They set an "outperform" rating and a $500.00 price target on the stock. Robert W. Baird set a $475.00 price objective on shares of Tesla in a research report on Monday, July 27th. Citigroup reissued a "neutral" rating on shares of Tesla in a research note on Wednesday, October 21st. Finally, Stifel Nicolaus set a $475.00 target price on shares of Tesla in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $414.51.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total transaction of $938,498.78. Following the transaction, 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 owned by insiders.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Elon Musk said Tesla plans to wind down Cybertruck production at its Texas factory around mid-2027 to make room for more Cybercab robotaxis. Investors may see the move as reallocating capacity toward Tesla’s autonomous-driving ambitions; the truck accounted for less than 2% of third-quarter deliveries. CNBC article
• Positive Sentiment: A new AI-accelerator roadmap was also highlighted as a catalyst for the stock, reinforcing investor interest in Tesla’s AI strategy beyond vehicle sales. TipRanks article
• Neutral Sentiment: EV shares broadly rebounded after the sector’s post-election sell-off, offering a market-level tailwind for Tesla. 247WallSt article
• Negative Sentiment: The production wind-down underscores Cybertruck demand and execution challenges: reports cite sharply lower sales, delays, quality issues, and multiple recalls. The Cybercab opportunity is not yet proven and depends on regulatory clearance, customer adoption, and viable economics. Reuters article

Tesla Price Performance

Shares of Tesla stock opened at $358.22 on Friday. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 393.65, a price-to-earnings-growth ratio of 22.19 and a beta of 1.74. 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 50 day moving average price of $372.14 and a 200-day moving average price of $384.35. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83.

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

Tesla Company 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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