1,943 Tesla, Inc. $TSLA Shares Sold by Grove Bank & Trust

Grove Bank & Trust cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,354 shares of the electric vehicle producer’s stock after selling 1,943 shares during the period. Grove Bank & Trust’s holdings in Tesla were worth $3,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Corient Private Wealth LLC lifted its holdings in shares of Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares in the last quarter. Legal & General Group Plc acquired a new stake in Tesla during the 2nd quarter worth 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. Deutsche Bank AG acquired a new position in shares of Tesla in the second quarter valued at approximately $4,039,090,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Tesla in the second quarter valued at approximately $3,144,509,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TSLA shares. Wells Fargo & Company restated a “buy” rating on shares of Tesla in a report on Thursday, October 1st. HSBC reiterated a “reduce” rating and set a $157.00 target price on shares of Tesla in a report on Monday. Jefferies Financial Group set a $400.00 price target on Tesla and gave the company a “hold” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. reduced their price objective on Tesla from $445.00 to $415.00 and set a “neutral” rating for the company in a research report on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft set a $420.00 price objective on Tesla in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $412.19.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s 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 transaction, the chief financial officer owned 25,972 shares of the company’s stock, valued at $9,353,296.36. The trade was a 9.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is currently owned by corporate insiders.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Q3 delivery beat supports near-term sentiment. Tesla delivered 486,532 vehicles, exceeding expectations despite a slight year-over-year decline. Attention now shifts to automotive margins and the company’s upcoming earnings report, since weaker profitability could offset the delivery performance. Tesla’s EV Delivery Beat Is In, So What Happens Now?
• Positive Sentiment: Commercial charging expansion strengthens Tesla’s energy and infrastructure opportunity. Tesla and Pilot opened their first Megacharger site in Georgia for heavy-duty electric trucks and announced three additional locations. Separately, logistics company IMC ordered 50 Tesla Semis, providing validation for Tesla’s commercial-vehicle ambitions. Pilot and Tesla Open First Megacharger Site
• Positive Sentiment: Autonomy-related developments remain a long-term bullish catalyst. Lemonade expanded autonomous-car insurance discounts to more Tesla vehicles using FSD, while Germany’s transport minister backed faster European approval of Tesla’s supervised FSD technology. Wider availability could support software revenue, although regulatory approval remains unresolved. Lemonade Adds Support for Tesla FSD
• Neutral Sentiment: Analysts see substantial upside but acknowledge execution risk. UBS raised its price target to $391 and called Tesla’s setup tactically favorable, with software, robotaxis, robotics and energy storage viewed as potential growth drivers beyond vehicle sales. UBS Flags a Bullish Setup in Tesla Stock
• Negative Sentiment: Valuation remains the biggest pressure point. Tesla trades at a far higher earnings multiple than competitors such as BYD, prompting even longtime bullish investors to warn that a strong business does not necessarily make the stock attractive at its current price. BYD Trades at 20 Times Earnings. Tesla Trades at 344.
• Negative Sentiment: AI spending and profitability concerns are limiting enthusiasm. Tesla is committing significant resources to chips, autonomy and robotics while investors still face questions about cash use, vehicle margins and the lack of detailed updates on Optimus. This makes the stock particularly sensitive to any earnings disappointment. Tesla’s Big AI Gamble Puts Its EV Business Under a Microscope

Tesla Stock Down 0.7%

Shares of Tesla stock traded down $2.81 during trading hours on Thursday, reaching $375.00. 28,299,486 shares of the company’s stock were exchanged, compared to its average volume of 51,356,391. The stock has a market cap of $1.48 trillion, a P/E ratio of 347.23, a P/E/G ratio of 20.34 and a beta of 1.92. The company has a 50 day moving average of $354.18 and a two-hundred day moving average of $377.19. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The company had revenue of $28.24 billion during the quarter, compared to analyst estimates of $26.42 billion. During the same period in the prior year, the firm posted $0.33 EPS. Tesla’s revenue was up 25.5% compared to the same quarter last year. On average, sell-side analysts forecast that Tesla, Inc. will post 0.83 EPS for the current fiscal year.

Tesla Company Profile

Tesla, Inc (NASDAQ:TSLA) designs, manufactures and sells electric vehicles, energy storage systems and solar energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y, Cybertruck and Tesla Semi. The company also develops vehicle software and driver-assistance features, operates a global Supercharger network and provides related vehicle services.

Tesla’s energy business offers battery storage products for residential, commercial and utility customers, including Powerwall and Megapack, as well as solar panels and solar roofing products.