Tesla, Inc. $TSLA Stock Position Lessened by Danske Bank A S

Key Points

• Danske Bank cut its Tesla stake by 10.8% in the third quarter, selling 233,656 shares. It still held 1.92 million shares worth about $682.8 million, representing 1.4% of its portfolio.
• Tesla reported quarterly EPS of $0.48, above the $0.46 consensus estimate, while revenue of $28.05 billion was nearly in line with expectations and down 0.2% year over year.
• Tesla shares fell 1.8% to $390.22. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $414.51.

Danske Bank A S decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,924,285 shares of the electric vehicle producer's stock after selling 233,656 shares during the quarter. Tesla makes up about 1.4% of Danske Bank A S's investment portfolio, making the stock its 13th largest position. Danske Bank A S's holdings in Tesla were worth $682,756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Tesla by 2.4% during the 2nd quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer's stock worth $49,402,312,000 after buying an additional 2,761,298 shares during the period. Amundi lifted its holdings in Tesla by 14.0% in the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer's stock valued at $8,243,513,000 after buying an additional 2,727,141 shares during the period. Legal & General Group Plc acquired a new position in Tesla in the second quarter valued at approximately $8,535,612,000. Bank of New York Mellon Corp bought a new position in Tesla in the second quarter valued at approximately $6,083,630,000. Finally, Bamco Inc. NY boosted its stake in Tesla by 5.0% in the second quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer's stock valued at $5,267,911,000 after acquiring an additional 591,243 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Latest Tesla News

Here's some of the latest news about TSLA:

• Positive Sentiment: Finland’s provisional approval of Tesla’s driver-assistance system adds momentum to its European FSD expansion and could support future software revenue, though broader EU approval is still pending. Article: Finland approves Tesla driver assistance system
• Neutral Sentiment: Tesla’s robotaxi and autonomy plans remain a potential growth driver, but regulatory hurdles, costs and the challenge of building a profitable service leave execution uncertain. Article: Is Tesla Stock Worth Buying Now on Robotaxi and FSD Progress?
• Negative Sentiment: Tesla’s latest quarter showed flat year-over-year revenue, while SpaceX reportedly grew revenue 161%, raising questions about the relative growth and valuation of the businesses in a possible combination. GLJ Research also reaffirmed its sell rating. Article: Tesla and SpaceX Could Announce a Merger as Soon as December

Tesla Trading Down 1.8%

NASDAQ:TSLA traded down $7.23 on Friday, reaching $390.22. The company's stock had a trading volume of 32,239,788 shares, compared to its average volume of 40,913,836. Tesla, Inc. has a 1-year low of $297.38 and a 1-year high of $498.83. 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 has a market cap of $1.54 trillion, a PE ratio of 428.82, a PEG ratio of 24.62 and a beta of 1.74. The business's 50-day moving average price is $374.75 and its two-hundred day moving average price is $383.05.

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

Insider Transactions at Tesla

In related 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 completion of the sale, the chief financial officer directly owned 25,972 shares of the company's stock, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 20.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. Royal Bank Of Canada downgraded Tesla from an "outperform" rating to a "sector perform" rating in a research note on Thursday, October 22nd. DZ Bank upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Tesla in a research note on Monday, October 19th. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Friday. Finally, Tigress Financial started coverage on Tesla in a research note on Thursday, October 22nd. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of "Moderate Buy" and an average 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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