Tesla, Inc. $TSLA Stock: Confluence Wealth Services Inc. Reduces Position

Key Points

• Confluence Wealth Services cut its Tesla position by 32.4% in the third quarter, selling 2,780 shares and retaining 5,798 shares worth about $2.06 million. Institutional ownership overall stands at 66.2%.
• Analyst views are mixed: Tesla has a “Moderate Buy” consensus and a $414.51 average price target, while some firms issued sell or hold ratings and Jefferies downgraded the stock to hold.
• Tesla’s latest quarterly earnings slightly beat EPS expectations ($0.48 versus $0.46), but revenue was nearly flat year over year and fell just short of estimates; the stock opened at $390.82.

Confluence Wealth Services Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,798 shares of the electric vehicle producer's stock after selling 2,780 shares during the period. Confluence Wealth Services Inc.'s holdings in Tesla were worth $2,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Moneco Advisors LLC lifted its position in shares of Tesla by 3.9% during the third quarter. Moneco Advisors LLC now owns 13,434 shares of the electric vehicle producer's stock worth $4,766,000 after purchasing an additional 502 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in Tesla by 4.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 19,602 shares of the electric vehicle producer's stock valued at $6,955,000 after purchasing an additional 870 shares in the last quarter. Narwhal Capital Management grew its holdings in Tesla by 21.3% during the 3rd quarter. Narwhal Capital Management now owns 9,602 shares of the electric vehicle producer's stock valued at $3,407,000 after purchasing an additional 1,689 shares in the last quarter. Triton Wealth Management PLLC increased its stake in Tesla by 12.0% during the 3rd quarter. Triton Wealth Management PLLC now owns 21,286 shares of the electric vehicle producer's stock worth $7,552,000 after buying an additional 2,289 shares during the period. Finally, D.B. Root & Company LLC increased its stake in Tesla by 3.3% during the 3rd quarter. D.B. Root & Company LLC now owns 4,418 shares of the electric vehicle producer's stock worth $1,567,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the transaction, the chief financial officer owned 25,972 shares in the company, valued at approximately $9,353,296.36. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a document filed 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. 20.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Piper Sandler restated an "overweight" rating and set a $475.00 target price (up from $450.00) on shares of Tesla in a research note on Thursday, October 22nd. Wall Street Zen cut Tesla from a "hold" rating to a "sell" rating in a research note on Saturday, October 24th. Glj Research reissued a "sell" rating on shares of Tesla in a report on Thursday, November 5th. Weiss Ratings restated a "hold (c-)" rating on shares of Tesla in a research note on Monday, October 19th. Finally, Jefferies Financial Group downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of "Moderate Buy" and a consensus price target of $414.51.

Tesla Stock Up 2.9%

Tesla stock opened at $390.82 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83. The company has a 50-day simple moving average of $373.66 and a 200-day simple moving average of $383.44. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 429.48, a P/E/G ratio of 23.53 and a beta of 1.74.

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

More Tesla News

Investors following TSLA have been watching these news items:

• Positive Sentiment: Elon Musk said Cybertruck production will continue through summer 2027 to help clear a backlog, extending the truck’s run beyond the previously discussed wind-down timeline. This suggests demand remains ahead of current production, although Tesla still plans to shift factory capacity toward its Cybercab robotaxi. CBS News: Tesla extends Cybertruck production to clear backlog
• Negative Sentiment: Tesla’s October retail sales in China were reported to be their weakest since 2022, raising questions about demand and the company’s ability to meet year-end targets in a major market. Barron's: Tesla's China Sales Hit Lowest Since 2022
• Negative Sentiment: Jefferies downgraded Tesla from “strong buy” to “hold,” adding a cautious analyst signal amid concerns about the company’s outlook and valuation.

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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