5,540 Tesla, Inc. $TSLA Shares Purchased by Welch Group LLC

Welch Group LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 41.1% during the third quarter, Holdings Channel reports. The institutional investor owned 19,026 shares of the electric vehicle producer’s stock after acquiring an additional 5,540 shares during the period. Welch Group LLC’s holdings in Tesla were worth $6,751,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TSLA. State Street Corp increased its position 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 worth $49,402,312,000 after purchasing an additional 2,761,298 shares during the last quarter. Amundi increased its stake in Tesla by 14.0% during the first 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 last quarter. Legal & General Group Plc acquired a new stake in shares of Tesla in the second quarter worth $8,535,612,000. Bank of New York Mellon Corp acquired a new position in shares of Tesla during the second quarter worth about $6,083,630,000. Finally, Bamco Inc. NY raised 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 valued at $5,267,911,000 after buying an additional 591,243 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $399.81 on Monday. The stock has a 50-day simple moving average of $369.61 and a 200 day simple moving average of $385.81. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09. The company has a market capitalization 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 12 month low of $297.38 and a 12 month high of $498.83.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $28.05 billion during the quarter, compared to analysts’ expectations of $28.06 billion. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. Research analysts forecast that Tesla, Inc. will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TSLA shares. DZ Bank upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Canaccord Genuity Group set a $442.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, October 22nd. Citigroup restated a “neutral” rating on shares of Tesla in a research note on Wednesday, October 21st. Roth Capital reissued a “buy” rating and set a $505.00 target price on shares of Tesla in a research report on Thursday, July 23rd. Finally, Morgan Stanley raised Tesla from a “reduce” rating to an “overweight” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $414.51.

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

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the 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 sale, the chief financial officer owned 25,972 shares in the company, valued at approximately $9,353,296.36. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 20.00% of the company’s stock.

Tesla Company 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.