24,818 Tesla, Inc. $TSLA Shares Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 29.1% in the third quarter, Holdings Channel reports. The institutional investor owned 110,086 shares of the electric vehicle producer’s stock after acquiring an additional 24,818 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Tesla were worth $39,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Security National Bank of Sioux City Iowa IA bought a new position in shares of Tesla in the second quarter worth $25,000. Friedenthal Financial raised its stake in shares of Tesla by 66.7% during the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 30 shares during the period. Harborfront Financial Group LLC bought a new stake in shares of Tesla during the 2nd quarter valued at $34,000. Montgomery Financial Services LLC purchased a new stake in Tesla during the 2nd quarter worth about $40,000. Finally, Lam Group Inc. purchased a new stake in Tesla during the 1st quarter worth about $37,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total value of $938,498.78. Following the transaction, the chief financial officer owned 25,972 shares of the company’s stock, valued at $9,353,296.36. This represents a 9.12% decrease in their position. The sale 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. 19.90% of the stock is currently owned by corporate insiders.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s third-quarter deliveries totaled 486,532 vehicles, well above analysts’ expectations of roughly 462,000. The result helped support the automotive outlook, although deliveries remained below the prior year. Tesla delivery and valuation analysis
• Positive Sentiment: Tesla’s robotaxi efforts remain a major potential growth driver. The Austin Cybercab fleet reportedly expanded eightfold in one month, while the company is considering additional markets such as Dallas. Tesla robotaxi fleet expansion
• Positive Sentiment: Jefferies raised its Tesla price target to $400 from $350, citing resilient deliveries and improving prospects for energy, services and other non-automotive businesses, while retaining a Hold rating. Jefferies raises Tesla price target
• Positive Sentiment: Erste Group modestly increased its FY2027 Tesla EPS forecast to $1.13 from $1.12, signaling some confidence in longer-term earnings growth. Tesla earnings estimate update
• Neutral Sentiment: The delayed next-generation Roadster is expected to be revealed October 15. Possible SpaceX thruster features are generating investor enthusiasm, but the event’s commercial and production impact remains uncertain. Tesla Roadster reveal
• Neutral Sentiment: Investors are focused on the October 21 earnings report, particularly automotive margins, softer year-over-year deliveries, energy-storage growth and services revenue. Tesla earnings preview
• Negative Sentiment: U.S. regulators are examining allegations that Tesla robotaxis exceeded speed limits in active school zones. Additional scrutiny could slow autonomous-vehicle expansion and raise safety-related costs. Tesla robotaxi safety inquiry
• Negative Sentiment: Analysts have expressed concern about Tesla’s planned capital spending, reportedly approaching $25 billion, which could pressure free cash flow and earnings if new businesses take longer to scale. Tesla spending concerns
• Negative Sentiment: At roughly 347 times earnings, Tesla’s valuation leaves little room for execution misses. Investors remain concerned about weak profitability, disappointing Cybertruck demand and intensifying competition in affordable EVs and autonomous driving.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Citizens Jmp began coverage on Tesla in a research note on Thursday, July 9th. They issued a “market perform” rating for the company. KeyCorp upgraded Tesla to a “sector weight” rating in a research report on Monday, September 28th. Roth Capital reissued a “buy” rating and issued a $505.00 price target on shares of Tesla in a report on Thursday, July 23rd. 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. Finally, HSBC reaffirmed a “reduce” rating and set a $157.00 price objective on shares of Tesla in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $412.33.

Tesla Stock Down 0.7%

Shares of NASDAQ TSLA opened at $375.23 on Wednesday. Tesla, Inc. has a 12 month low of $297.38 and a 12 month high of $498.83. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 347.44, a PEG ratio of 23.17 and a beta of 1.92. The business has a 50-day moving average of $357.69 and a 200-day moving average of $377.09.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.17). The company had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 0.73 earnings per share for the current fiscal year.

About Tesla

Tesla, Inc (NASDAQ:TSLA) designs, manufactures and sells electric vehicles, energy storage systems and solar energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y, Cybertruck and Tesla Semi. The company also develops vehicle software and driver-assistance features, operates a global Supercharger network and provides related vehicle services.

Tesla’s energy business offers battery storage products for residential, commercial and utility customers, including Powerwall and Megapack, as well as solar panels and solar roofing products.