Coldstream Capital Management Increases Tesla Stake to $16.54 Million

Coldstream Capital Management Inc. has increased its investment in Tesla, Inc. (NASDAQ:TSLA) by 13.5% during the third quarter, as revealed in its recent 13F filing submitted to the Securities and Exchange Commission. Following this investment, the firm holds a total of 62,058 shares of Tesla, which now amounts to a value of approximately $16,544,000.

Institutional Investor Activity

Several other institutional investors have also been active in the stock market regarding Tesla. For instance, Synergy Financial Group LTD expanded its holdings by 20.4% during the same quarter and now owns 8,310 shares, valued at $2,174,000 after acquiring an additional 1,406 shares. Similarly, RB Capital Management LLC increased its stake by 1.2%, bringing its total to 3,803 shares worth $995,000 after buying 46 more shares. FRG Family Wealth Advisors LLC also grew its position by 3.8%, now owning 6,388 shares valued at $1,671,000 after adding 231 shares. Additionally, First Dallas Securities Inc. established a new position in Tesla shares valued at about $238,000, while JDM Financial Group LLC also purchased shares worth around $166,000. Overall, institutional and hedge fund investors currently control about 66.20% of Tesla's stock.

Tesla Stock Overview

Shares of Tesla began trading at $389.79 on Tuesday, with a current ratio of 1.84 and a quick ratio of 1.37, indicating a strong liquidity position. The company's debt-to-equity ratio stands at a low 0.08. Over the past year, Tesla's stock has fluctuated, showing a low of $138.80 and a high of $404.80. The stock's 50-day moving average price is $288.09, while the 200-day moving average price is $240.67. Currently, Tesla's market capitalization is $1.25 trillion, with a price-to-earnings ratio of 106.79. The company's PEG ratio is recorded at 12.64, and it has a beta of 2.36.

Recent Earnings Report

Tesla announced its quarterly earnings on October 23rd, reporting earnings per share (EPS) of $0.72 for the quarter, surpassing analysts' expectations that predicted an EPS of $0.58. The company achieved a revenue of $25.18 billion, slightly below the consensus estimate of $25.47 billion. Tesla also reported a return on equity of 10.24% and a net margin of 13.07%. This represents a 7.8% increase in revenue compared to the same quarter last year, during which the company recorded an EPS of $0.53. Analysts estimate that Tesla will report an EPS of 1.99 for the current year.

Insider Trading Activities

In other developments related to Tesla, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock on November 11th at an average price of $346.02, totaling $34,602,000. Following the sale, she retains a direct ownership of 5,400 shares, valued at approximately $1,868,508. This sale resulted in a significant decrease of 94.88% in her ownership of Tesla shares. Additionally, Director Kimbal Musk sold 60,500 shares of Tesla on November 1st for an average price of $250.23, amounting to $15,138,915. After this transaction, Musk owns 1,563,220 shares in Tesla, worth about $391,164,540. Company insiders have sold a total of 522,886 shares in the past ninety days, with insider ownership now at around 20.70%.

Investors' Views and Analyst Ratings

Recent comments from various analysts suggest a positive outlook for Tesla. KGI Securities upgraded its rating from "neutral" to "outperform," setting a price target at $276.00. Robert W. Baird also maintained an "outperform" rating, giving a price target of $280.00. Truist Financial's price objective for Tesla was raised to $238.00 while maintaining a "hold" rating. StockNews.com upgraded its analysis, moving from a "sell" to a "hold" rating. Piper Sandler has increased its price target from $310.00 to $315.00 while also giving an "overweight" rating. Overall, analysts have given Tesla a mixed rating; nine analysts rated it a sell, sixteen a hold, fifteen a buy, and one a strong buy, resulting in a consensus rating of "Hold" and an average price target of $250.84.

About Tesla, Inc.

Tesla, Inc. focuses on designing, developing, manufacturing, leasing, and selling electric vehicles and energy storage systems. The company operates two main segments: Automotive and Energy Generation and Storage, producing electric vehicles and selling automotive regulatory credits, among other related services.

Tesla, Investment, Finance