Tesla, Inc. $TSLA Stock: Jefferies Financial Group Inc. Lowers Stake

Jefferies Financial Group Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 54.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,489 shares of the electric vehicle producer’s stock after selling 121,434 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Tesla were worth $35,638,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Security National Bank of Sioux City Iowa IA bought a new position in Tesla during the second quarter valued at $25,000. Harborfront Financial Group LLC purchased a new position in shares of Tesla in the 2nd quarter worth $34,000. Montgomery Financial Services LLC purchased a new position in shares of Tesla in the 2nd quarter worth $40,000. Timbuktu Capital Management LLC bought a new stake in shares of Tesla in the 2nd quarter worth about $42,000. Finally, Navigoe LLC bought a new stake in shares of Tesla in the 2nd quarter worth about $45,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 2.9%

NASDAQ TSLA opened at $390.82 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.74 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 429.48, a PEG ratio of 23.53 and a beta of 1.74. The company has a fifty day moving average of $373.66 and a two-hundred day moving average of $383.44.

Tesla (NASDAQ:TSLA) last announced 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 net margin of 3.11% and a return on equity of 3.03%. The business had revenue of $28.05 billion for the quarter, compared to the consensus estimate of $28.06 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent research reports. Canaccord Genuity Group set a $442.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, October 22nd. Piper Sandler reiterated an “overweight” rating and issued a $475.00 price target (up from $450.00) on shares of Tesla in a research report on Thursday, October 22nd. Yorkville Ives started coverage on Tesla in a research note on Wednesday, October 7th. They set an “outperform” rating and a $500.00 price objective on the stock. Barclays raised Tesla from an “outperform” rating to an “overweight” rating and boosted their price objective for the stock from $370.00 to $450.00 in a research note on Monday, October 26th. Finally, CLSA restated an “underperform” rating on shares of Tesla in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $414.51.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 transaction, the chief financial officer directly owned 25,972 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 20.00% of the company’s stock.

Tesla News Summary

These are some of the TSLA news items that stood out recently:

• Positive Sentiment: Finland approved Tesla’s supervised driver-assistance system for use on its roads. The decision could help Tesla build momentum in Europe, though broader EU approval is still pending and the system may face limitations. Reuters: Finland approves Tesla’s Assisted Driving system
• Negative Sentiment: Tesla’s October retail sales in China were reported to be their weakest since 2022, raising questions about demand and the company’s ability to meet year-end targets in a major market. Barron’s: Tesla’s China Sales Hit Lowest Since 2022
• Negative Sentiment: Jefferies downgraded Tesla from “strong buy” to “hold,” adding a cautious analyst signal amid concerns about the company’s outlook and valuation.

About Tesla

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.