1,742 Tesla, Inc. $TSLA Shares Purchased by Pinnacle Financial Group LLC IL

Pinnacle Financial Group LLC IL grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 202.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,601 shares of the electric vehicle producer’s stock after purchasing an additional 1,742 shares during the period. Pinnacle Financial Group LLC IL’s holdings in Tesla were worth $923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp increased its stake in Tesla by 2.4% during the second quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer’s stock valued at $49,402,312,000 after acquiring an additional 2,761,298 shares during the period. Amundi lifted its position in shares of Tesla by 14.0% in the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock worth $8,243,513,000 after acquiring an additional 2,727,141 shares during the period. Legal & General Group Plc bought a new stake in shares of Tesla in the 2nd quarter worth approximately $8,535,612,000. Bank of New York Mellon Corp bought a new stake in shares of Tesla in the 2nd quarter worth approximately $6,083,630,000. Finally, Bamco Inc. NY grew its holdings in shares of Tesla by 5.0% during the 2nd quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer’s stock worth $5,267,911,000 after purchasing an additional 591,243 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Trending Headlines about 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 Stock Performance

Shares of NASDAQ:TSLA opened at $399.81 on Monday. The business has a fifty day moving average of $369.61 and a 200-day moving average of $385.81. 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, Inc. has a twelve month low of $297.38 and a twelve month high of $498.83. The firm has a market cap of $1.58 trillion, a PE ratio of 439.36, a price-to-earnings-growth ratio of 24.77 and a beta of 1.74.

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 analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $28.05 billion for the quarter, compared to analyst estimates of $28.06 billion. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, equities research analysts predict that Tesla, Inc. will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TSLA. CLSA restated an “underperform” rating on shares of Tesla in a research report on Monday, October 26th. Wall Street Zen lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research note on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft began coverage on Tesla in a report on Monday, October 26th. They set a “buy” rating on the stock. Finally, HSBC reiterated a “reduce” rating and set a $157.00 price objective on shares of Tesla in a research note on Monday, October 5th. One 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $414.51.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the sale, 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 filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 20.00% of the company’s stock.

About Tesla

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.