Tesla, Inc. $TSLA Shares Sold by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR cut its Tesla stake by 4.8%, selling 71,935 shares in the third quarter; it still held 1.42 million shares worth about $502 million at quarter-end.
• Tesla reported quarterly EPS of $0.48, beating the $0.46 consensus, while revenue of $28.05 billion was just below estimates and declined 0.2% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $414.51; ratings ranged from Sell to Strong Buy.

Eurizon Capital SGR S.p.A. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,415,282 shares of the electric vehicle producer's stock after selling 71,935 shares during the quarter. Tesla accounts for 1.3% of Eurizon Capital SGR S.p.A.'s portfolio, making the stock its 14th largest position. Eurizon Capital SGR S.p.A.'s holdings in Tesla were worth $501,885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Security National Bank of Sioux City Iowa IA bought a new position in Tesla during the second quarter valued at about $25,000. Harborfront Financial Group LLC acquired a new position in Tesla during the second quarter worth about $34,000. Montgomery Financial Services LLC bought a new stake in Tesla in the second quarter worth about $40,000. Timbuktu Capital Management LLC bought a new stake in Tesla in the second quarter worth about $42,000. Finally, Navigoe LLC acquired a new stake in Tesla in the 2nd quarter valued at about $45,000. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 directly owned 25,972 shares of the company's stock, valued at $9,353,296.36. This trade represents 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 currently owned by insiders.

Tesla Trading Up 1.7%

NASDAQ:TSLA opened at $397.45 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.74 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 firm has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 535.40, a price-to-earnings-growth ratio of 24.21 and a beta of 1.74. The stock has a fifty day simple moving average of $374.47 and a 200 day simple moving average of $383.25.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 analysts' expectations of $28.06 billion. Tesla had a return on equity of 3.03% and a net margin of 3.11%. Tesla's revenue was down .2% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. Sell-side analysts forecast that Tesla, Inc. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the subject of several research reports. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a research report on Thursday, October 22nd. Piper Sandler reiterated an "overweight" rating and issued a $475.00 target price (up from $450.00) on shares of Tesla in a report on Thursday, October 22nd. Glj Research reissued a "sell" rating on shares of Tesla in a research note on Thursday, November 5th. Deutsche Bank began coverage on shares of Tesla in a report on Monday, October 26th. They set a "buy" rating for the company. Finally, Barclays upgraded shares of Tesla from an "outperform" rating to an "overweight" rating and lifted their price target for the stock from $370.00 to $450.00 in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seventeen have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Moderate Buy" and an average target price of $414.51.

Trending Headlines about Tesla

Here are a few of the latest headlines about TSLA:

• Positive Sentiment: Reports say Tesla and SpaceX have formed committees to assess an all-stock merger and that talks are advancing, with an announcement possible by December. The prospect of combining Tesla’s automotive and autonomy businesses with SpaceX has fueled optimism, though no agreement is confirmed and a deal could bring valuation and dilution risks. Article: SpaceX and Tesla Talks on Record Merger Are Said to Progress
• Positive Sentiment: Progress in autonomy offers another potential growth narrative: Finland approved Tesla’s assisted-driving system, adding to the countries permitting it ahead of a broader EU decision. Tesla also says its Robotaxi service now runs around the clock in active cities, and reports say its registered Texas fleet has surpassed Waymo’s. Commercial scale and profitability have yet to be demonstrated. Article: Finland approves Tesla's Assisted Driving system Article: Tesla Robotaxi 24/7 operations
• Negative Sentiment: Bearish commentary points to Tesla’s rich valuation and limited near-term profit growth. A separate report says Musk’s proposed chip-building ambitions could require enormous investment—potentially beyond Tesla’s cash-flow capacity—raising questions about funding and returns. Article: Tesla valuation downgrade Article: Musk's chip plan and Tesla cash flow

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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