Tesla, Inc. $TSLA Stock: Traynor Capital Management Inc. Reduces Position

Traynor Capital Management Inc. lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dala Group LLC boosted its holdings in shares of Tesla by 9.9% in the 3rd quarter. Dala Group LLC now owns 747 shares of the electric vehicle producer’s stock valued at $265,000 after buying an additional 67 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position 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 last quarter. Pinkerton Wealth LLC raised its stake in Tesla by 13.1% during the 3rd quarter. Pinkerton Wealth LLC now owns 2,530 shares of the electric vehicle producer’s stock worth $898,000 after acquiring an additional 293 shares in the last quarter. Virtue Capital Management LLC raised its stake in Tesla by 34.6% during the 3rd quarter. Virtue Capital Management LLC now owns 7,890 shares of the electric vehicle producer’s stock worth $2,799,000 after acquiring an additional 2,028 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. lifted its position in Tesla by 22.8% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 83,220 shares of the electric vehicle producer’s stock valued at $29,527,000 after acquiring an additional 15,450 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Key Headlines 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 Price Performance

TSLA stock opened at $399.81 on Monday. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 439.36, a price-to-earnings-growth ratio of 24.77 and a beta of 1.74. The company has a fifty day moving average price of $369.61 and a 200 day moving average price of $385.81. 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, Inc. has a 12 month low of $297.38 and a 12 month high of $498.83.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 3.11% and a return on equity of 3.03%. Tesla’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. Sell-side analysts expect that Tesla, Inc. will post 0.67 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Oppenheimer assumed coverage on shares of Tesla in a research note on Thursday, October 22nd. They issued an “outperform” rating for the company. BNP Paribas Exane upgraded Tesla from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $266.00 to $420.00 in a research report on Thursday, October 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a report on Monday, October 19th. Monness Crespi & Hardt started coverage on Tesla in a research report on Monday, October 26th. They issued a “buy” rating for the company. Finally, BMO Capital Markets began coverage on Tesla in a research note on Monday, August 17th. They set an “outperform” rating on the stock. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Moderate Buy” and a consensus price target of $414.51.

Insider Buying and Selling at Tesla

In other 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 transaction of $938,498.78. Following the completion of the sale, the chief financial officer owned 25,972 shares in the company, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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.