Tradewinds Capital Boosts Tesla Holdings by 18.3% in Q2

Tradewinds Capital Management LLC has increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 18.3% during the second quarter of 2023. According to the company’s most recent 13F filing with the Securities and Exchange Commission (SEC), Tradewinds now owns 868 shares of the electric vehicle manufacturer, following the acquisition of an additional 134 shares. As of the end of the reporting period, these holdings were valued at approximately $276,000.

Several other institutional investors have also adjusted their positions in Tesla recently. Notably, Means Investment CO. Inc. raised its stake by 37.7% during the first quarter, now holding 23,089 shares valued at $5,984,000. Siren L.L.C. established a new position in Tesla with a valuation of $2,332,000, while Zuckerman Investment Group LLC increased its holdings by 6.9%, owning 12,748 shares now valued at $3,304,000. Additionally, Keystone Global Partners LLC and Strs Ohio also made significant investments during this period.

Analyst Ratings and Market Performance

Tesla has been the subject of numerous research reports from analysts. On October 8, 2023, Weiss Ratings reiterated a “hold (c)” rating on Tesla shares. In contrast, TD Cowen raised its target price for the stock from $374.00 to $509.00, maintaining a “buy” rating. Other analysts have expressed more cautious views; for instance, Guggenheim kept a “sell” rating with a target price of $175.00.

The consensus among analysts shows a divided outlook: two have rated Tesla as a Strong Buy, twenty-one as Buy, twelve as Hold, and ten as Sell. Overall, the company currently holds a consensus rating of “Hold” with an average price target of $363.54.

On October 6, 2023, Tesla shares opened at $439.31. The stock has fluctuated significantly, with a 52-week low of $212.11 and a high of $488.54. With a market capitalization of $1.46 trillion, Tesla maintains a P/E ratio of 253.94 and a PEG ratio of 15.41.

Financial Results and Insider Transactions

Tesla recently reported its earnings for the quarter ending July 23, 2023. The company announced earnings per share (EPS) of $0.40, which fell short of the consensus estimate of $0.43. Revenue during this period totaled $22.50 billion, compared to an expected $23.18 billion. This revenue reflects an 11.8% decline from the same quarter the previous year, when the company reported EPS of $0.52.

In terms of insider activity, senior vice president Xiaotong Zhu sold 20,000 shares on September 11, 2023, at an average price of $363.75, totaling $7,275,000. Following this transaction, Zhu’s remaining shares are valued at approximately $17,314,500. Additionally, Chief Financial Officer Vaibhav Taneja sold 2,606 shares on September 8, 2023, for a total of $918,302.28.

In the last quarter, insiders sold a total of 202,606 shares, valued at $75,588,902. Currently, 19.90% of Tesla’s stock is held by insiders.

Tesla, Inc. is a prominent player in the electric vehicle market, involved in the design, development, manufacturing, and sale of electric vehicles and energy solutions. The company operates primarily in the United States and China, focusing on automotive and energy segments.