Sicart Associates LLC Has $11.48 Million Stake in Tesla, Inc. $TSLA

Key Points

• Sicart Associates LLC reduced its stake in Tesla, Inc. by 4.4% during the second quarter, now holding 36,133 shares valued at $11.48 million.
• Tesla reported a missed earnings estimate for the last quarter, with an EPS of $0.40 against a consensus of $0.43, and a revenue of $22.50 billion compared to an expected $23.18 billion.
• Institutional investors collectively own 66.20% of Tesla's shares, indicating strong interest from investment firms in the electric vehicle market.

Sicart Associates LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,133 shares of the electric vehicle producer's stock after selling 1,660 shares during the quarter. Tesla makes up 4.0% of Sicart Associates LLC's portfolio, making the stock its 5th biggest position. Sicart Associates LLC's holdings in Tesla were worth $11,478,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank raised its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter worth $27,000. Newton One Investments LLC raised its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. raised its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 3.3%

Shares of NASDAQ:TSLA opened at $459.46 on Thursday. The stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 265.58, a PEG ratio of 15.46 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock's 50-day simple moving average is $359.13 and its two-hundred day simple moving average is $318.62. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TSLA shares. Wedbush increased their price objective on Tesla from $500.00 to $600.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. William Blair reissued a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. HSBC increased their target price on Tesla from $120.00 to $127.00 in a research note on Monday. Mizuho increased their target price on Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 23rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $337.15.

Tesla 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.

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