Goldman Sachs lowered Tesla’s third-quarter delivery forecast to 435,000 vehicles from 490,000, below the Visible Alpha consensus of 456,000. Analyst Mark Delaney retained a Neutral stance and a $360 price target, while Goldman also reduced its fourth-quarter estimate to 475,000 from 515,000, still above the 462,000 consensus. The cuts reflect softer monthly and weekly sales in China, the United States and Europe, although export markets including Southeast Asia, South America and Australia have shown greater resilience. Tesla shares trade at $356.58, down 20% year to date, giving the company a $1.41 trillion market capitalization. Fifteen analysts have lowered earnings estimates for the coming reporting period. Chief Financial Officer Vaibhav Taneja sold 2,606 shares on September 8 at $360.13 each for $938,498, a transaction linked to tax liabilities from vested equity compensation; his remaining holdings total 25,972 shares. Institutional investors control 66.2% of Tesla’s outstanding stock. Waverly Advisors cut its stake by 12.1% in the second quarter, while Nykredit A/S opened a position worth about $262 million and Range Advisory increased its holding by 91.9%. Tesla’s latest quarterly revenue reached $28.24 billion, up 25.5% year over year and above the $26.42 billion estimate, but adjusted earnings per share of $0.33 missed the $0.50 consensus. The overall analyst rating remains Hold, with 22 Buy, 18 Hold and five Sell ratings, and an average price target of $414.68. The National Highway Traffic Safety Administration (U.S. vehicle-safety regulator) is examining Tesla’s self-certification of its steering-wheel-free Cybercab and requested a response by September 30. Goldman identified potential fourth-quarter catalysts including higher Model Y Long Range production in the United States and Europe and Full Self-Driving technology advances. Analysts forecast full-year earnings of $0.88 per share.