Tesla, Inc. $TSLA Shares Sold by Money Concepts Capital Corp

Money Concepts Capital Corp cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,110 shares of the electric vehicle producer’s stock after selling 1,621 shares during the quarter. Money Concepts Capital Corp’s holdings in Tesla were worth $1,458,000 at the end of the most recent quarter.

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

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the 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 completion of the transaction, the chief financial officer directly owned 25,972 shares of the company’s stock, valued at $9,353,296.36. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSLA. DZ Bank raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Wells Fargo & Company reissued a “buy” rating on shares of Tesla in a report on Thursday, October 1st. Truist Financial set a $370.00 price objective on shares of Tesla and gave the company a “hold” rating in a research report on Thursday, July 23rd. Oppenheimer began coverage on shares of Tesla in a research note on Thursday, October 22nd. They set an “outperform” rating for the company. Finally, Robert W. Baird set a $475.00 target price on shares of Tesla in a report on Monday, July 27th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $414.51.

Key Tesla News

Investors following TSLA have been watching these news items:

• Positive Sentiment: Finland’s provisional approval of Tesla’s driver-assistance system adds momentum to its European FSD expansion and could support future software revenue, though broader EU approval is still pending. Article: Finland approves Tesla driver assistance system
• Neutral Sentiment: Tesla’s robotaxi and autonomy plans remain a potential growth driver, but regulatory hurdles, costs and the challenge of building a profitable service leave execution uncertain. Article: Is Tesla Stock Worth Buying Now on Robotaxi and FSD Progress?
• Negative Sentiment: Tesla’s latest quarter showed flat year-over-year revenue, while SpaceX reportedly grew revenue 161%, raising questions about the relative growth and valuation of the businesses in a possible combination. GLJ Research also reaffirmed its sell rating. Article: Tesla and SpaceX Could Announce a Merger as Soon as December

Tesla Trading Down 1.8%

NASDAQ:TSLA traded down $7.23 during trading hours on Friday, hitting $390.22. The company had a trading volume of 32,239,788 shares, compared to its average volume of 40,913,836. The company has a market capitalization of $1.54 trillion, a PE ratio of 428.82, a price-to-earnings-growth ratio of 24.62 and a beta of 1.74. The stock has a 50-day moving average price of $374.75 and a 200 day moving average price of $383.05. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83. 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 (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The business had revenue of $28.05 billion during the quarter, compared to analyst estimates of $28.06 billion. During the same period in the prior year, the business earned $0.50 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 0.67 EPS for the current fiscal 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.