Tesla, Inc. $TSLA Stock Position Lifted by Triton Wealth Management PLLC

Key Points

• Triton Wealth Management increased its Tesla stake by 12% in the third quarter, adding 2,289 shares to hold 21,286 shares worth about $7.55 million.
• Other institutions also reported increasing their positions, and institutional investors collectively own 66.2% of Tesla. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $414.51.
• Tesla reported quarterly earnings of $0.48 per share, above expectations of $0.46, while revenue of $28.05 billion was nearly in line with estimates and down 0.2% year over year.

Triton Wealth Management PLLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,286 shares of the electric vehicle producer's stock after purchasing an additional 2,289 shares during the period. Tesla accounts for about 2.3% of Triton Wealth Management PLLC's holdings, making the stock its 11th largest holding. Triton Wealth Management PLLC's holdings in Tesla were worth $7,552,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. D.B. Root & Company LLC boosted its position in shares of Tesla by 3.3% during the third quarter. D.B. Root & Company LLC now owns 4,418 shares of the electric vehicle producer's stock valued at $1,567,000 after buying an additional 142 shares during the last quarter. Guardian Financial Partners LLC raised its position in Tesla by 48.0% in the 3rd quarter. Guardian Financial Partners LLC now owns 2,236 shares of the electric vehicle producer's stock worth $793,000 after buying an additional 725 shares during the last quarter. Gen Wealth Partners Inc raised its position in Tesla by 13.6% in the 3rd quarter. Gen Wealth Partners Inc now owns 3,377 shares of the electric vehicle producer's stock worth $1,198,000 after buying an additional 404 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in Tesla by 4.4% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 3,265 shares of the electric vehicle producer's stock valued at $1,159,000 after acquiring an additional 139 shares during the period. Finally, Flynn Zito Capital Management LLC boosted its holdings in shares of Tesla by 6.2% during the 3rd quarter. Flynn Zito Capital Management LLC now owns 3,338 shares of the electric vehicle producer's stock valued at $1,184,000 after acquiring an additional 194 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TSLA shares. TD Cowen initiated coverage on shares of Tesla in a report on Monday, October 26th. They set a "hold" rating for the company. Roth Capital restated a "buy" rating and issued a $505.00 target price on shares of Tesla in a report on Thursday, July 23rd. Robert W. Baird set a $475.00 target price on shares of Tesla in a research report on Monday, July 27th. Citigroup reiterated a "neutral" rating on shares of Tesla in a research note on Wednesday, October 21st. Finally, KeyCorp upgraded Tesla to a "sector weight" rating in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $414.51.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 25,972 shares in the company, valued at approximately $9,353,296.36. The trade was a 9.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.

Key Stories Impacting Tesla

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 Trading Up 0.5%

Shares of NASDAQ:TSLA opened at $379.78 on Wednesday. The stock has a 50 day moving average of $372.97 and a 200 day moving average of $383.73. The company 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. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12-month low of $297.38 and a 12-month high of $498.83.

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, beating analysts' consensus estimates of $0.46 by $0.02. The business 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 business's quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 0.67 EPS for the current year.

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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