Tradewinds Capital Management Boosts Tesla Holdings by 18.3%

Tradewinds Capital Management LLC has expanded its investment in Tesla, Inc. (NASDAQ: TSLA) by 18.3% during the second quarter of 2023, according to its recent 13F filing with the Securities and Exchange Commission (SEC). After acquiring an additional 134 shares, the firm now holds a total of 868 shares, valued at approximately $276,000.

This move reflects a broader trend among institutional investors, as several funds have recently adjusted their stakes in Tesla. For instance, Means Investment CO. Inc. increased its position by 37.7% in the first quarter, now owning 23,089 shares worth $5,984,000. Similarly, Siren L.L.C. and Zuckerman Investment Group LLC have also made significant investments in Tesla, with Zuckerman acquiring 826 shares to increase its total to 12,748 shares, valued at $3,304,000.

Analyst Ratings and Stock Performance

Tesla’s stock has garnered attention from analysts, with various ratings being assigned. On October 9, TD Cowen raised its price target for Tesla from $374.00 to $509.00, maintaining a “buy” rating. In contrast, Weiss Ratings reaffirmed a “hold” rating on October 8, while Guggenheim continued to issue a “sell” rating with a target price of $175.00.

As of the last trading session, Tesla shares opened at $439.31. The company’s stock has experienced significant fluctuations, with a 52-week low of $212.11 and a high of $488.54. Tesla boasts a market capitalization of $1.46 trillion and a P/E ratio of 253.94. Analysts anticipate an average price target of $363.54 and a consensus rating of “hold” based on data from MarketBeat.

Recent Earnings and Insider Activity

In its latest earnings report released on July 23, Tesla reported earnings per share (EPS) of $0.40, falling short of the consensus estimate of $0.43. Revenue for the quarter was reported at $22.50 billion, slightly below the anticipated $23.18 billion. The company’s net margin stood at 6.54%, reflecting an 11.8% decrease in revenue from the same quarter the previous year.

Recent insider transactions also indicate active management decisions within Tesla. On September 11, Senior Vice President Xiaotong Zhu sold 20,000 shares at an average price of $363.75, totaling $7,275,000. Following this sale, Zhu’s holdings decreased by 29.59%. Additionally, Chief Financial Officer Vaibhav Taneja sold 2,606 shares for approximately $918,302, marking a 20.91% reduction in his position.

Currently, insiders own 19.90% of Tesla’s stock. The company’s structure includes two main segments: Automotive and Energy Generation and Storage, focusing on both electric vehicle production and energy solutions globally.

As institutional investment in Tesla continues to grow, the company’s financial performance and market perception will remain closely monitored by analysts and investors alike.