Rockefeller Capital Management Increases Holdings in Tesla, Inc.

Rockefeller Capital Management L.P. has announced an increase in its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the third quarter of the year, according to the latest filings submitted to the Securities and Exchange Commission. After acquiring an additional 19,076 shares during this quarter, the fund now holds a total of 520,960 shares of Tesla's stock. The total value of Rockefeller's holdings in Tesla is approximately $136,129,000 as reported at the end of the quarter.

Other Institutional Investments

In addition to Rockefeller's investment, several other institutional investors have also adjusted their stakes in Tesla. For instance, Bank & Trust Co initiated a new investment in Tesla during the second quarter valued at about $25,000. Similarly, Valley Wealth Managers Inc. also bought shares worth around $26,000 in the same period. Abich Financial Wealth Management LLC notably increased its holdings by 168.8% during the second quarter and now owns 129 shares valued at $26,000 after purchasing 81 additional shares. Transcendent Capital Group LLC made a new investment in Tesla during the third quarter for approximately $29,000, while Clean Yield Group raised its stake by 60% during the third quarter, ending up with 128 shares valued at $33,000. Collectively, institutional investors hold about 66.20% of Tesla's stock.

Insider Transactions at Tesla

In other developments regarding Tesla, Chief Financial Officer Vaibhav Taneja sold 4,000 shares on November 11, generating a total of $1,400,000 from the sale, as these shares were sold at an average price of $350. Following the transaction, Taneja's ownership reduced to 105,032 shares, equivalent to approximately $36,761,200, which represents a 3.67% decrease in his holdings. This transaction was reported in a regulatory filing with the SEC.

Additionally, Director Kathleen Wilson-Thompson sold 100,000 shares on the same day, resulting in total proceeds of $34,602,000 as the shares were sold at an average price of $346.02. After this sale, Wilson-Thompson now holds 5,400 shares valued around $1,868,508, reflecting a significant 94.88% decrease in her position. Over the last three months, insiders sold a total of 301,187 shares worth approximately $92,956,692. It is noted that company insiders own about 20.70% of Tesla's stock.

Analysts Update Price Targets

The stock has recently been the subject of discussions among analysts with various ratings issued. For instance, JPMorgan Chase & Co. raised their target price for Tesla from $130.00 to $135.00, maintaining an "underweight" rating as of October 24. Cantor Fitzgerald reiterated a "neutral" rating with a price target of $245.00 on October 23. In a recent research note, UBS Group increased its price objective from $197.00 to $226.00, categorizing the stock's rating as "sell." Needham & Company LLC reaffirmed a "hold" rating while Guggenheim also raised their price target from $153.00 to $156.00 while maintaining a "sell" rating. Overall, among analysts reviewing the stock, there are nine sell ratings, seventeen hold ratings, and fourteen buy ratings, granting Tesla a consensus rating of "Hold" with an average target price of $231.06.

Tesla's Stock Performance

The current market price for Tesla (NASDAQ:TSLA) opened at $332.89. The company's fifty-day moving average stands at $272.41, while the two-hundred day moving average is $230.60. Tesla boasts a market capitalization of $1.07 trillion, with a price-to-earnings ratio of 91.20, and a PEG ratio of 10.81, showcasing a beta of 2.29. The stock has fluctuated significantly over the past year, reaching a low of $138.80 and a high of $361.93. In terms of its financial metrics, Tesla maintains a debt-to-equity ratio of 0.08, a quick ratio of 1.37, and a current ratio of 1.84.

Tesla reported its earnings results on October 23, surpassing expectations with an earnings per share (EPS) of $0.72 compared to the consensus estimate of $0.58. The company achieved a return on equity of 10.24% with a net margin of 13.07%. Revenue for the quarter was reported at $25.18 billion, slightly below the estimated $25.47 billion. Compared to the same quarter last year, Tesla's revenue increased by 7.8% while EPS rose from $0.53 a year prior. Analysts predict an EPS of 1.99 for the current year.

About Tesla, Inc.

Tesla, Inc. is a company that designs, develops, manufactures, leases, and sells electric vehicles and energy generation and storage systems in the United States, China, and beyond. It operates primarily in two segments: Automotive and Energy Generation and Storage. The Automotive segment deals with electric vehicle production as well as automotive regulatory credits and non-warranty after-sales services among other offerings.

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