Sicart Associates LLC Decreases Position in Tesla, Inc. $TSLA

Sicart Associates LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,133 shares of the electric vehicle producer’s stock after selling 1,660 shares during the quarter. Tesla comprises 4.0% of Sicart Associates LLC’s portfolio, making the stock its 5th biggest holding. Sicart Associates LLC’s holdings in Tesla were worth $11,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank raised its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Tesla during the 1st quarter valued at approximately $27,000. Newton One Investments LLC raised its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Finally, Chelsea Counsel Co. raised its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $459.46 on Thursday. The business has a fifty day moving average of $359.13 and a 200 day moving average of $318.62. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.53 trillion, a P/E ratio of 265.58, a PEG ratio of 15.46 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. Tesla’s revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Stifel Nicolaus set a $440.00 target price on Tesla in a research note on Friday, September 5th. HSBC lifted their price objective on Tesla from $120.00 to $127.00 in a research note on Monday. UBS Group reaffirmed a “sell” rating on shares of Tesla in a research note on Monday, September 22nd. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Finally, Mizuho lifted their price objective on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $337.15.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 in the last quarter. 19.90% of the stock is owned by company insiders.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.