Riverbridge Partners LLC Sells 6,548 Shares of Tesla, Inc. $TSLA

by · The Cerbat Gem

Riverbridge Partners LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 6.1% during the third quarter, Holdings Channel.com reports. The firm owned 101,375 shares of the electric vehicle producer’s stock after selling 6,548 shares during the period. Tesla comprises 1.1% of Riverbridge Partners LLC’s investment portfolio, making the stock its 29th biggest holding. Riverbridge Partners LLC’s holdings in Tesla were worth $35,969,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Peirce Capital Management LLC boosted its holdings in Tesla by 1.5% during the second quarter. Peirce Capital Management LLC now owns 1,657 shares of the electric vehicle producer’s stock worth $697,000 after buying an additional 25 shares in the last quarter. Phillip James Consulting Co. grew its position in Tesla by 8.7% during the first quarter. Phillip James Consulting Co. now owns 326 shares of the electric vehicle producer’s stock valued at $121,000 after buying an additional 26 shares during the period. Cadence Wealth Management LLC increased its holdings in Tesla by 4.7% in the first quarter. Cadence Wealth Management LLC now owns 580 shares of the electric vehicle producer’s stock valued at $216,000 after buying an additional 26 shares in the last quarter. Crumly & Associates Inc. increased its holdings in Tesla by 0.6% in the second quarter. Crumly & Associates Inc. now owns 4,698 shares of the electric vehicle producer’s stock valued at $1,976,000 after buying an additional 26 shares in the last quarter. Finally, Brickley Wealth Management increased its holdings in Tesla by 3.6% in the second quarter. Brickley Wealth Management now owns 757 shares of the electric vehicle producer’s stock valued at $318,000 after buying an additional 26 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

  • Positive Sentiment: Tesla is expanding its robotaxi service to San Antonio, adding another Texas market as it seeks to build a business beyond vehicle sales. Tesla expands robotaxi service to San Antonio
  • Positive Sentiment: A report said Tesla attracted $96.8 million in ETF capital, which may provide some support for shares, although ETF flows do not necessarily reflect a change in the company’s fundamentals. Tesla pulls in ETF capital
  • Neutral Sentiment: Tesla has started work on a proposed $10 billion solar factory near Houston, a potentially significant expansion into solar manufacturing, but one that also entails substantial investment and execution risk. Tesla’s Project Crystal Sun
  • Neutral Sentiment: A hedge fund has urged Tesla and SpaceX to combine, but this is an outside proposal—not confirmation that a merger will happen. Any potential effect on Tesla shareholders remains uncertain. Sargasso Capital Management’s Project Kepler
  • Negative Sentiment: Tesla’s October retail sales in China reportedly fell to their lowest level since 2022, raising concerns about demand in a key market and the company’s year-end sales targets. Tesla’s China sales hit lowest since 2022
  • Negative Sentiment: Elon Musk says Cybertruck production is expected to end in about eight months so capacity can be redirected to Cybercab, with many reservation holders due refunds. The pivot may advance Tesla’s autonomy ambitions, but it also highlights the uncertainty around Cybertruck production and customer orders. Tesla Cybertruck is EV pickup market’s latest casualty
  • Negative Sentiment: A Tesla shareholder warned that political and regulatory opposition could hinder autonomous-vehicle deployment, putting a central part of the company’s growth narrative at risk. Autonomy faces potential political risk

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s 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 owned 25,972 shares in the company, valued at $9,353,296.36. This represents a 9.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. BNP Paribas Exane upgraded Tesla from an “underperform” rating to a “neutral” rating and raised their target price for the company from $266.00 to $420.00 in a research report on Thursday, October 22nd. Yorkville Ives assumed coverage on Tesla in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $500.00 price target for the company. Oppenheimer initiated coverage on Tesla in a research note on Thursday, October 22nd. They issued an “outperform” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Moderate Buy” and an average price target of $414.51.

View Our Latest Report on Tesla

Tesla Price Performance

Shares of NASDAQ TSLA opened at $379.78 on Wednesday. The firm has a market cap of $1.50 trillion, a PE ratio of 417.35, a PEG ratio of 23.42 and a beta of 1.74. The firm has a fifty day moving average of $372.97 and a 200 day moving average of $383.73. 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 one year low of $297.38 and a one year high of $498.83.

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

Tesla Company Profile

(Free Report)

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.

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