Rockefeller Capital Management L.P. Expands Investment in Tesla, Inc.

Rockefeller Capital Management L.P. has announced a 3.8% increase in its investment in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the third quarter, based on the latest filing with the Securities and Exchange Commission (SEC). As of the end of that quarter, the fund held a total of 520,960 shares of the electric vehicle manufacturer after acquiring an additional 19,076 shares. The overall value of Rockefeller Capital Management L.P.'s holdings in Tesla reached approximately $136,129,000.

Recent Changes in Institutional Holdings

Several other institutional investors have made adjustments to their holdings in Tesla recently. For instance, Bank & Trust Co. initiated a new position in Tesla valued at around $25,000 during the second quarter. Likewise, Valley Wealth Managers Inc. bought a new stake in the company for about $26,000 in the same period. Abich Financial Wealth Management LLC notably increased its Tesla shares by 168.8% during the second quarter and now owns 129 shares, worth $26,000, after acquiring 81 additional shares. Transcendent Capital Group LLC entered a new position in Tesla valued at roughly $29,000 in the third quarter. Additionally, Clean Yield Group boosted its stake by 60.0% during the third quarter and now holds 128 shares of Tesla, valued at $33,000, following the purchase of 48 more shares. As a whole, institutional investors own 66.20% of Tesla's stock.

Tesla Insider Activities

In insider news related to Tesla, the Chief Financial Officer, Vaibhav Taneja, sold 4,000 shares on November 11, which totaled about $1,400,000 based on an average sale price of $350. Following this sale, Taneja now possesses 105,032 shares in the company, valued at around $36,761,200, representing a decrease of 3.67% in ownership. Furthermore, Director Kathleen Wilson-Thompson sold 100,000 shares on the same day, receiving approximately $34,602,000 from the trade, at an average price of $346.02 per share. After this transaction, Wilson-Thompson's remaining holdings dropped to 5,400 shares, valued at $1,868,508, which signifies a 94.88% reduction in her position. In the last three months, insiders have collectively sold 301,187 shares of Tesla stock valued at about $92,956,692. Insiders currently hold 20.70% of the company's shares.

Analysts Offer New Price Targets

Recent research reports have shed light on Tesla's market performance. JPMorgan Chase & Co. has raised its target price for Tesla from $130.00 to $135.00, maintaining an "underweight" rating as of October 24. Meanwhile, Cantor Fitzgerald affirmed a "neutral" rating and set a target price of $245.00 for the shares. UBS Group increased its target from $197.00 to $226.00 while designating a "sell" rating. Needham & Company LLC reiterated a "hold" rating in another analysis report. Guggenheim also raised its price target on Tesla from $153.00 to $156.00, issuing a "sell" rating. In total, nine analysts rate Tesla's stock as a sell, seventeen as hold, and fourteen as buy, suggesting a consensus rating of "Hold" with an average price target of $231.06 according to MarketBeat data.

Tesla’s Recent Market Performance

On the trading floor, Tesla (NASDAQ:TSLA - Get Free Report) opened at $332.89. The stock is currently showing a fifty-day moving average of $272.41, and a two-hundred day moving average of $230.60. Tesla has a market capitalization of $1.07 trillion and a price-to-earnings ratio of 91.20. The company’s one-year low is $138.80, while the high is $361.93. Additionally, Tesla's debt-to-equity ratio is 0.08, with a quick ratio of 1.37 and a current ratio of 1.84. On October 23, Tesla reported earnings of $0.72 per share for the last quarter, surpassing the analyst consensus estimate of $0.58. Although revenues for the quarter totaled $25.18 billion, slightly under the expected $25.47 billion, it marked a 7.8% increase compared to the same period last year. Analysts predict that Tesla will achieve an EPS of 1.99 for the current year.

Company Overview of Tesla, Inc.

Tesla, Inc. designs, develops, manufactures, and sells electric vehicles, along with energy generation and storage systems. The company operates primarily in two segments: Automotive and Energy Generation and Storage. The Automotive segment focuses on electric vehicle sales, automotive regulatory credits, and a range of other services such as parts sales and vehicle insurance.

Rockefeller, Tesla, Investments