Tesla, Inc. $TSLA Stock: Trek Financial LLC Boosts Holdings

Key Points

• Trek Financial LLC increased its Tesla position by 128.4% in the third quarter, bringing its holdings to 32,186 shares valued at approximately $11.42 million. Institutional investors and hedge funds collectively own 66.2% of Tesla.
• Analyst sentiment is broadly positive, with Tesla receiving a “Moderate Buy” consensus rating and an average price target of $414.51; recent upgrades included BNP Paribas Exane and Morgan Stanley.
• Tesla slightly exceeded quarterly EPS expectations at $0.48, but revenue of $28.05 billion was essentially in line with forecasts and declined 0.2% year over year. The stock opened at $399.81, while competition from Chinese EV makers and Tesla’s falling U.S. market share remain key risks.

Trek Financial LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 128.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,186 shares of the electric vehicle producer's stock after buying an additional 18,097 shares during the quarter. Trek Financial LLC's holdings in Tesla were worth $11,420,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Tesla during the second quarter valued at approximately $25,000. Harborfront Financial Group LLC acquired a new position in Tesla in the 2nd quarter worth approximately $34,000. Montgomery Financial Services LLC acquired a new position in Tesla in the 2nd quarter worth approximately $40,000. Timbuktu Capital Management LLC purchased a new position in Tesla during the 2nd quarter worth approximately $42,000. Finally, Navigoe LLC purchased a new position in Tesla during the 2nd quarter worth approximately $45,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BNP Paribas Exane upgraded Tesla from an "underperform" rating to a "neutral" rating and increased their target price for the company from $266.00 to $420.00 in a report on Thursday, October 22nd. KeyCorp upgraded Tesla to a "sector weight" rating in a report on Monday, September 28th. Tigress Financial initiated coverage on Tesla in a research report on Thursday, October 22nd. They set a "buy" rating on the stock. Morgan Stanley raised Tesla from a "reduce" rating to an "overweight" rating in a research note on Monday, October 26th. Finally, Wells Fargo & Company restated a "buy" rating on shares of Tesla in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $414.51.

Tesla Stock Performance

Shares of TSLA stock opened at $399.81 on Monday. The firm has a market cap of $1.58 trillion, a P/E ratio of 439.36, a PEG ratio of 24.77 and a beta of 1.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.74 and a quick ratio of 1.39. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83. The stock's 50-day moving average is $369.61 and its two-hundred day moving average is $385.81.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $28.05 billion during 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 firm's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS. Analysts predict that Tesla, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm'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 transaction, the chief financial officer directly owned 25,972 shares in the company, valued at approximately $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 through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 20.00% of the company's stock.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: European sales showed meaningful improvement in October: Tesla registrations rose 248% year over year in Sweden, 131% in Norway and 34% in Denmark. The gains suggest Tesla may be beginning to recover from its prolonged global sales slump. Tesla registrations surge across Northern Europe in October
• Positive Sentiment: Tesla’s Cybercab and robotaxi expansion remains a major part of the bullish investment case. New or expanded operations in Texas, Nevada and other U.S. markets could create higher-margin, recurring software and mobility revenue if Tesla reaches its targeted operating cost of roughly $0.30 per paid mile. Cybercab Expansion Might Change the Case for Investing in Tesla Stock
• Neutral Sentiment: Tesla may be reconsidering a larger role for Taiwan Semiconductor Manufacturing Co. in its Texas Terafab chip project. TSMC’s manufacturing expertise could improve execution, although the report also suggests Tesla may have less direct control over a strategically important initiative. Tesla’s Terafab May Reportedly Lean on TSMC After All
• Neutral Sentiment: Reports that Tesla and SpaceX are exploring a combination continue to generate speculative upside scenarios, but the transaction would require agreement on valuation, exchange terms and shareholder approval. The potential deal is not yet a completed corporate action. Barclays Says a SpaceX Merger Is Now a Key Part of the Tesla Bull Case
• Negative Sentiment: Investor Gary Black says Tesla’s U.S. EV share has fallen from approximately 80% to 52% as smaller and lesser-known rivals gain ground. His call for stronger marketing highlights competitive pressure and could weigh on confidence in Tesla’s ability to justify its very high valuation. Gary Black Says Tesla Is Losing EV Share
• Negative Sentiment: BYD, Xiaomi and XPeng reported strong October sales in China, reinforcing the threat from increasingly capable local competitors. That pressure is especially important because Tesla trades at a substantial earnings premium despite modest profitability and recently declining revenue. Tesla China EV Rivals Report Strong Sales

Tesla Profile

Tesla, Inc is an electric vehicle and clean energy company headquartered in Austin, Texas. Founded in 2003, the company designs, manufactures and sells electric vehicles, including the Model S, Model 3, Model X, Model Y and Cybertruck. Tesla also develops vehicle software, driver-assistance features and related services intended to support the operation and ownership of its vehicles.

Beyond automobiles, Tesla produces energy storage products for residential, commercial and utility-scale applications, including the Powerwall and Megapack.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.