Tesla, Inc. $TSLA Stock: B. Riley Wealth Advisors Inc. Raises Stake

Key Points

• B. Riley Wealth Advisors increased its Tesla stake by 14.9% in the third quarter, owning 30,734 shares valued at approximately $10.9 million. Institutional investors and hedge funds collectively own 66.2% of Tesla.
• Analyst sentiment remains mixed: Tesla has an average “Hold” rating and an average price target of $412.33, with ratings ranging from Strong Buy to Sell.
• Tesla reported quarterly revenue of $28.24 billion, up 25.5% year over year, but earnings per share of $0.33 missed the $0.50 consensus estimate. The stock opened at $375.23, with a market capitalization of about $1.48 trillion and a very high P/E ratio of 347.44.

B. Riley Wealth Advisors Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,734 shares of the electric vehicle producer's stock after buying an additional 3,980 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Tesla were worth $10,905,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TSLA. State Street Corp grew its position in shares of Tesla by 2.4% during 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 acquiring an additional 2,761,298 shares during the last quarter. Amundi increased its holdings in shares of Tesla by 14.0% in the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer's stock worth $8,243,513,000 after acquiring an additional 2,727,141 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Tesla by 3,205.5% in the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer's stock worth $9,650,811,000 after acquiring an additional 20,810,386 shares during the period. Legal & General Group Plc bought a new stake in Tesla in the 2nd quarter valued at about $8,535,612,000. Finally, Invesco Ltd. lifted its position in Tesla by 14.0% in the 4th quarter. Invesco Ltd. now owns 16,980,122 shares of the electric vehicle producer's stock valued at $7,636,301,000 after purchasing an additional 2,082,813 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on TSLA. Truist Financial set a $370.00 target price on shares of Tesla and gave the stock a "hold" rating in a research report on Thursday, July 23rd. Tigress Financial restated a "buy" rating and issued a $550.00 price target on shares of Tesla in a research note on Thursday, October 8th. Robert W. Baird set a $475.00 price target on Tesla in a report on Monday, July 27th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 23rd. Finally, Piper Sandler started coverage on Tesla in a report on Monday, September 14th. They issued an "overweight" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average price target of $412.33.

Tesla Stock Performance

TSLA stock opened at $375.23 on Wednesday. The company has a 50-day simple moving average of $357.69 and a 200 day simple moving average of $377.09. The company has a market capitalization of $1.48 trillion, a P/E ratio of 347.44, a PEG ratio of 23.17 and a beta of 1.92. The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company had revenue of $28.24 billion for the quarter, compared to analyst estimates of $26.42 billion. During the same period in the previous year, the business posted $0.33 EPS. The firm's quarterly revenue was up 25.5% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the 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 completion of the transaction, the chief financial officer directly owned 25,972 shares in the company, 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 accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 19.90% of the company's stock.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s third-quarter deliveries totaled 486,532 vehicles, exceeding Wall Street’s estimate of approximately 462,000 and helping drive the recent rebound in the shares. However, deliveries remained below the prior-year period. Tesla Trades at 219x Earnings
• Positive Sentiment: China-made vehicle sales increased 5% in September, extending Tesla’s growth streak in China to 11 months, supported by overseas shipments and price incentives. Tesla China EV Sales Growth
• Positive Sentiment: Jefferies raised its Tesla price target to $400 from $350, citing resilient deliveries and improving prospects for energy, services and other nonautomotive businesses, although it retained a Hold rating. Jefferies Raises Tesla Price Target
• Positive Sentiment: Tesla is expanding its Austin robotaxi fleet and showcasing the Cybercab and driver-assistance technology at the Paris Motor Show, providing potential catalysts for its autonomy strategy. Tesla Robotaxi Lands in Paris
• Neutral Sentiment: Investors are looking ahead to Tesla’s October 21 earnings report, focusing on automotive margins, profitability, capital spending and growth in energy storage and services. Tesla Q3 Earnings Preview
• Negative Sentiment: Analysts have lowered Tesla’s target as concerns grow over approximately $25 billion in planned spending and rising operating costs. The company’s very high earnings multiple also makes the stock vulnerable to weak profits or disappointing guidance. Tesla Target Lowered Over Spending
• Negative Sentiment: U.S. regulators are investigating allegations that Tesla robotaxis exceeded speed limits in active school zones, adding uncertainty to the company’s autonomous-driving rollout. Tesla Robotaxi School-Zone Investigation
• Negative Sentiment: Tesla stopped taking orders in Canada for its two least expensive China-built Model 3 variants, citing import restrictions. The move could limit access to lower-priced vehicles in an important market. Tesla Stops Canadian Model 3 Orders
• Negative Sentiment: New data suggests Cybertruck sales remain far below Elon Musk’s earlier targets, while competition from BYD, European automakers, Lucid and autonomous-driving rivals continues to challenge Tesla’s growth narrative. Cybertruck Deliveries

Tesla Profile

Tesla, Inc NASDAQ: TSLA designs, manufactures and sells electric vehicles, energy storage systems and solar energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y, Cybertruck and Tesla Semi. The company also develops vehicle software and driver-assistance features, operates a global Supercharger network and provides related vehicle services.

Tesla's energy business offers battery storage products for residential, commercial and utility customers, including Powerwall and Megapack, as well as solar panels and solar roofing products.

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