Tesla, Inc. $TSLA Stock Position Boosted by Philadelphia Trust Co.

Key Points

• Philadelphia Trust Co. increased its Tesla stake by 56.8% in the third quarter, adding 2,000 shares to hold 5,521 shares valued at about $1.96 million.
• Institutional investors own 66.2% of Tesla’s stock. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $414.51.
• Tesla reported quarterly earnings of $0.48 per share, slightly above estimates, while revenue of $28.05 billion was essentially in line and down 0.2% year over year.

Philadelphia Trust Co. raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 56.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,521 shares of the electric vehicle producer's stock after acquiring an additional 2,000 shares during the quarter. Philadelphia Trust Co.'s holdings in Tesla were worth $1,959,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TSLA. Legal & General Group Plc purchased a new position in Tesla in the 2nd quarter valued at about $8,535,612,000. Bank of New York Mellon Corp acquired a new stake in shares of Tesla during the second quarter valued at about $6,083,630,000. Deutsche Bank AG purchased a new stake in shares of Tesla during the second quarter worth about $4,039,090,000. Canada Pension Plan Investment Board purchased a new stake in shares of Tesla during the second quarter worth about $3,144,509,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Tesla in the second quarter worth about $2,995,584,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Key Tesla News

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

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was 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 of the company's stock, valued at $9,353,296.36. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on TSLA shares. Oppenheimer assumed coverage on Tesla in a report on Thursday, October 22nd. They issued an "outperform" rating for the company. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Tesla in a report on Monday, October 19th. Deutsche Bank Aktiengesellschaft began coverage on Tesla in a research report on Monday, October 26th. They issued a "buy" rating on the stock. Roth Capital reiterated a "buy" rating and set a $505.00 target price on shares of Tesla in a research note on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of Tesla from a "hold" rating to a "sell" rating in a research report on Saturday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $414.51.

Tesla Stock Performance

Shares of Tesla 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. Tesla, Inc. has a 1 year low of $297.38 and a 1 year high of $498.83. The firm's 50-day simple moving average is $372.97 and its 200-day simple moving average is $383.73. The firm has a market cap of $1.50 trillion, a PE ratio of 417.35, a price-to-earnings-growth ratio of 23.42 and a beta of 1.74.

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

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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