Sicart Associates LLC Has $9.79 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Sicart Associates LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 44.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,793 shares of the electric vehicle producer's stock after acquiring an additional 11,694 shares during the quarter. Tesla comprises 3.3% of Sicart Associates LLC's investment portfolio, making the stock its 8th largest position. Sicart Associates LLC's holdings in Tesla were worth $9,794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TSLA. Rinkey Investments raised its holdings in Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after buying an additional 29 shares during the period. Bell Investment Advisors Inc raised its holdings in Tesla by 1.3% during the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock valued at $945,000 after buying an additional 30 shares during the period. Pitti Group Wealth Management LLC raised its holdings in Tesla by 2.2% during the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after buying an additional 31 shares during the period. True Wealth Design LLC raised its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the period. Finally, Garrett Wealth Advisory Group LLC raised its holdings in Tesla by 2.4% during the 4th quarter. Garrett Wealth Advisory Group LLC now owns 1,401 shares of the electric vehicle producer's stock valued at $566,000 after buying an additional 33 shares during the period. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Friday, June 20th. Benchmark reiterated a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $298.37.

Tesla Price Performance

Shares of TSLA stock opened at $323.63 on Monday. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The stock's 50-day moving average is $314.93 and its 200 day moving average is $329.21. The company has a market cap of $1.04 trillion, a P/E ratio of 177.82, a PEG ratio of 12.20 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the business posted $0.45 EPS. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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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