Tesla, Inc. $TSLA Stock Sold by M&G PLC

Key Points

• M&G PLC cut its Tesla stake by 42.1% in the third quarter, selling 5,009 shares and retaining 6,891 shares valued at about $2.45 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $414.51; views range from Buy to Sell.
• Tesla reported quarterly EPS of $0.48, beating estimates of $0.46, while revenue of $28.05 billion was nearly in line with expectations and down 0.2% year over year.

M&G PLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,891 shares of the electric vehicle producer's stock after selling 5,009 shares during the period. M&G PLC's holdings in Tesla were worth $2,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Peirce Capital Management LLC lifted its stake in Tesla by 1.5% in the 2nd quarter. Peirce Capital Management LLC now owns 1,657 shares of the electric vehicle producer's stock valued at $697,000 after acquiring an additional 25 shares in the last quarter. Phillip James Consulting Co. grew its stake in shares of Tesla by 8.7% during the 1st quarter. Phillip James Consulting Co. now owns 326 shares of the electric vehicle producer's stock worth $121,000 after acquiring an additional 26 shares in the last quarter. Cadence Wealth Management LLC grew its stake in shares of Tesla by 4.7% during the 1st quarter. Cadence Wealth Management LLC now owns 580 shares of the electric vehicle producer's stock worth $216,000 after acquiring an additional 26 shares in the last quarter. Crumly & Associates Inc. raised its holdings in shares of Tesla by 0.6% in the second quarter. Crumly & Associates Inc. now owns 4,698 shares of the electric vehicle producer's stock valued at $1,976,000 after purchasing an additional 26 shares during the last quarter. Finally, Brickley Wealth Management raised its holdings in shares of Tesla by 3.6% in the second quarter. Brickley Wealth Management now owns 757 shares of the electric vehicle producer's stock valued at $318,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TSLA shares. BMO Capital Markets assumed coverage on shares of Tesla in a research note on Monday, August 17th. They issued an "outperform" rating on the stock. CLSA restated an "underperform" rating on shares of Tesla in a research note on Monday, October 26th. Barclays upgraded Tesla from an "outperform" rating to an "overweight" rating and raised their price objective for the company from $370.00 to $450.00 in a report on Monday, October 26th. Mizuho lifted their target price on Tesla from $450.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, October 22nd. Finally, Piper Sandler reiterated an "overweight" rating and set a $475.00 target price (up from $450.00) on shares of Tesla in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Moderate Buy" and an average target price of $414.51.

Trending Headlines about Tesla

Here are a few of the latest headlines about TSLA:

• 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
• Neutral Sentiment: A report said Tesla’s Texas robotaxi fleet reached 1,302 registered vehicles, surpassing Waymo in that state. Fleet growth may strengthen Tesla’s autonomous-driving ambitions, but the business’s commercial potential still depends on regulatory approval and successful service expansion. TipRanks: Tesla Robotaxi Overtakes Waymo in Texas
• 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 Price Performance

Shares of NASDAQ TSLA opened at $390.82 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.74 and a debt-to-equity ratio of 0.09. The business's 50 day moving average price is $373.66 and its two-hundred day moving average price is $383.44. The company has a market cap of $1.54 trillion, a PE ratio of 429.48, a price-to-earnings-growth ratio of 23.53 and a beta of 1.74. Tesla, Inc. has a twelve month low of $297.38 and a twelve month high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $28.06 billion. During the same period last year, the firm posted $0.50 earnings per share. The business's revenue was down .2% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 0.67 EPS for the current 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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