Tesla, Inc. $TSLA Shares Acquired by Philadelphia Trust Co.

Philadelphia Trust Co. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 56.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,521 shares of the electric vehicle producer’s stock after purchasing an additional 2,000 shares during the quarter. Philadelphia Trust Co.’s holdings in Tesla were worth $1,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bamco Inc. NY increased its position in Tesla by 5.0% in the 2nd 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 period. One Plus One Wealth Management LLC acquired a new position in Tesla during the 2nd quarter worth $1,009,000. Bessemer Group Inc. boosted its position in Tesla by 23.6% during the 1st quarter. Bessemer Group Inc. now owns 56,240 shares of the electric vehicle producer’s stock worth $20,908,000 after acquiring an additional 10,747 shares during the period. H&H International Investment LLC bought a new position in shares of Tesla in the first quarter worth $1,267,259,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Tesla by 12.4% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 43,600 shares of the electric vehicle producer’s stock worth $15,470,000 after purchasing an additional 4,806 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

More 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

Analysts Set New Price Targets

A number of brokerages have recently commented on TSLA. Truist Financial set a $370.00 price target on Tesla and gave the company a “hold” rating in a report on Thursday, July 23rd. Roth Capital reaffirmed a “buy” rating and issued a $505.00 price objective on shares of Tesla in a report on Thursday, July 23rd. UBS Group upgraded shares of Tesla from a “neutral” rating to a “buy” rating in a research report on Monday, October 26th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 22nd. Finally, Monness Crespi & Hardt initiated coverage on shares of Tesla in a research report on Monday, October 26th. They set a “buy” rating on the stock. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $414.51.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $379.78 on Wednesday. The stock has a fifty day moving average price of $372.97 and a two-hundred day moving average price of $383.73. 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 $1.50 trillion, a P/E ratio of 417.35, a PEG ratio of 23.42 and a beta of 1.74. Tesla, Inc. has a 1 year low of $297.38 and a 1 year high of $498.83.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 company had revenue of $28.05 billion for 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 quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 EPS. Research analysts forecast that Tesla, Inc. will post 0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated 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 directly owned 25,972 shares of the company’s stock, valued at $9,353,296.36. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 owned by corporate insiders.

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.