Tesla, Inc. $TSLA Stock Holdings Lowered by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund cut its Tesla stake by 1.9% in the third quarter, selling 2,853 shares. It still held 150,447 shares worth about $53.4 million at quarter-end.
• Institutional investors and hedge funds collectively own 66.2% of Tesla. The article also reports Tesla’s CFO sold 2,606 shares to cover tax withholding on vested equity awards.
• Tesla’s latest quarter beat EPS expectations slightly ($0.48 versus $0.46), while revenue was nearly in line at $28.05 billion and down 0.2% year over year. Analysts’ consensus rating was “Moderate Buy,” with a $414.51 price target.

Illinois Municipal Retirement Fund lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,447 shares of the electric vehicle producer's stock after selling 2,853 shares during the period. Tesla comprises 0.6% of Illinois Municipal Retirement Fund's holdings, making the stock its 19th largest position. Illinois Municipal Retirement Fund's holdings in Tesla were worth $53,380,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TSLA. Bamco Inc. NY raised its holdings in Tesla by 5.0% during the 2nd quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer's stock worth $5,267,911,000 after buying an additional 591,243 shares during the period. One Plus One Wealth Management LLC acquired a new position in shares of Tesla in the second quarter valued at approximately $1,009,000. Bessemer Group Inc. boosted its holdings in shares of Tesla by 23.6% in the first quarter. Bessemer Group Inc. now owns 56,240 shares of the electric vehicle producer's stock valued at $20,908,000 after buying an additional 10,747 shares during the period. H&H International Investment LLC acquired a new position in shares of Tesla in the first quarter valued at approximately $1,267,259,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Tesla by 12.4% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 43,600 shares of the electric vehicle producer's stock worth $15,470,000 after acquiring an additional 4,806 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total value of $938,498.78. Following the completion of the sale, 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 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 corporate insiders.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla is expanding its robotaxi service to San Antonio, adding another Texas market as it seeks to build a business beyond vehicle sales. Tesla expands robotaxi service to San Antonio
• Positive Sentiment: A report said Tesla attracted $96.8 million in ETF capital, which may provide some support for shares, although ETF flows do not necessarily reflect a change in the company’s fundamentals. Tesla pulls in ETF capital
• Neutral Sentiment: Tesla has started work on a proposed $10 billion solar factory near Houston, a potentially significant expansion into solar manufacturing, but one that also entails substantial investment and execution risk. Tesla's Project Crystal Sun
• Neutral Sentiment: A hedge fund has urged Tesla and SpaceX to combine, but this is an outside proposal—not confirmation that a merger will happen. Any potential effect on Tesla shareholders remains uncertain. Sargasso Capital Management's Project Kepler
• Negative Sentiment: Tesla’s October retail sales in China reportedly fell to their lowest level since 2022, raising concerns about demand in a key market and the company’s year-end sales targets. Tesla's China sales hit lowest since 2022
• Negative Sentiment: Elon Musk says Cybertruck production is expected to end in about eight months so capacity can be redirected to Cybercab, with many reservation holders due refunds. The pivot may advance Tesla’s autonomy ambitions, but it also highlights the uncertainty around Cybertruck production and customer orders. Tesla Cybertruck is EV pickup market's latest casualty
• Negative Sentiment: A Tesla shareholder warned that political and regulatory opposition could hinder autonomous-vehicle deployment, putting a central part of the company’s growth narrative at risk. Autonomy faces potential political risk

Tesla Stock Up 0.5%

Shares of TSLA stock opened at $379.78 on Wednesday. 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 firm's 50-day moving average is $372.97 and its 200-day moving average is $383.73. The stock has a market cap of $1.50 trillion, a price-to-earnings ratio of 417.35, a PEG ratio of 23.42 and a beta of 1.74. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The business had revenue of $28.05 billion during the quarter, compared to the consensus estimate of $28.06 billion. During the same period last year, the business posted $0.50 EPS. Tesla's revenue was down .2% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 0.67 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on TSLA shares. HSBC restated a "reduce" rating and set a $157.00 price objective on shares of Tesla in a report on Monday, October 5th. Tigress Financial started coverage on shares of Tesla in a research note on Thursday, October 22nd. They issued a "buy" rating for the company. BMO Capital Markets initiated coverage on Tesla in a report on Monday, August 17th. They set an "outperform" rating for the company. Barclays raised Tesla from an "outperform" rating to an "overweight" rating and lifted their price target for the company from $370.00 to $450.00 in a research note on Monday, October 26th. Finally, Roth Capital restated a "buy" rating and issued a $505.00 price target on shares of Tesla in a report on Thursday, July 23rd. One 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $414.51.

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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