2,265 Tesla, Inc. $TSLA Shares Sold by Traynor Capital Management Inc.

Traynor Capital Management Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 7.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,114 shares of the electric vehicle producer’s stock after selling 2,265 shares during the period. Traynor Capital Management Inc.’s holdings in Tesla were worth $10,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Dala Group LLC raised its stake in shares of Tesla by 9.9% during the 3rd quarter. Dala Group LLC now owns 747 shares of the electric vehicle producer’s stock worth $265,000 after buying an additional 67 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Tesla by 1.3% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 125,796 shares of the electric vehicle producer’s stock valued at $44,536,000 after buying an additional 1,659 shares during the period. Pinkerton Wealth LLC boosted its stake in shares of Tesla by 13.1% in the third quarter. Pinkerton Wealth LLC now owns 2,530 shares of the electric vehicle producer’s stock valued at $898,000 after buying an additional 293 shares in the last quarter. Virtue Capital Management LLC boosted its stake in shares of Tesla by 34.6% in the third quarter. Virtue Capital Management LLC now owns 7,890 shares of the electric vehicle producer’s stock valued at $2,799,000 after buying an additional 2,028 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. grew its holdings in Tesla by 22.8% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 83,220 shares of the electric vehicle producer’s stock worth $29,527,000 after acquiring an additional 15,450 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 22nd. Stifel Nicolaus set a $475.00 target price on shares of Tesla in a research report on Thursday, October 22nd. Mizuho increased their price target on shares of Tesla from $450.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Canaccord Genuity Group set a $442.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Thursday, October 22nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.51.

Tesla Stock Performance

Shares of TSLA stock opened at $399.81 on Monday. The stock has a fifty day moving average price of $369.61 and a 200 day moving average price of $385.81. The stock has a market cap of $1.58 trillion, a PE ratio of 439.36, a P/E/G ratio of 24.77 and a beta of 1.74. Tesla, Inc. has a 1 year low of $297.38 and a 1 year high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $28.06 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. Tesla’s revenue was down .2% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 0.67 earnings per share for the current fiscal year.

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.