Sicart Associates LLC Purchases 4,353 Shares of Tesla, Inc. $TSLA

Sicart Associates LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.6% in the third quarter, Holdings Channel reports. The fund owned 55,232 shares of the electric vehicle producer’s stock after buying an additional 4,353 shares during the quarter. Tesla comprises approximately 4.7% of Sicart Associates LLC’s investment portfolio, making the stock its 5th biggest holding. Sicart Associates LLC’s holdings in Tesla were worth $19,592,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Peirce Capital Management LLC boosted its position in shares of Tesla by 1.5% in the second quarter. Peirce Capital Management LLC now owns 1,657 shares of the electric vehicle producer’s stock valued at $697,000 after acquiring an additional 25 shares during the period. Phillip James Consulting Co. increased its position in Tesla by 8.7% during the first quarter. Phillip James Consulting Co. now owns 326 shares of the electric vehicle producer’s stock worth $121,000 after acquiring an additional 26 shares during the period. Cadence Wealth Management LLC raised its stake in Tesla by 4.7% during the 1st quarter. Cadence Wealth Management LLC now owns 580 shares of the electric vehicle producer’s stock valued at $216,000 after purchasing an additional 26 shares during the last quarter. Crumly & Associates Inc. raised its stake in Tesla by 0.6% during the 2nd quarter. Crumly & Associates Inc. now owns 4,698 shares of the electric vehicle producer’s stock valued at $1,976,000 after purchasing an additional 26 shares during the last quarter. Finally, Brickley Wealth Management boosted its holdings in Tesla by 3.6% in the 2nd quarter. Brickley Wealth Management now owns 757 shares of the electric vehicle producer’s stock valued at $318,000 after purchasing an additional 26 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total value of $938,498.78. Following the completion of the transaction, the chief financial officer owned 25,972 shares of the company’s stock, valued at $9,353,296.36. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TSLA shares. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 22nd. HSBC reaffirmed a “reduce” rating and set a $157.00 price objective on shares of Tesla in a research report on Monday, October 5th. Monness Crespi & Hardt began coverage on shares of Tesla in a research note on Monday, October 26th. They issued a “buy” rating for the company. Stifel Nicolaus set a $475.00 target price on Tesla in a research report on Thursday, October 22nd. Finally, BMO Capital Markets began coverage on Tesla in a research note on Monday, August 17th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Moderate Buy” and an average target price of $414.51.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: European sales showed meaningful improvement in October: Tesla registrations rose 248% year over year in Sweden, 131% in Norway and 34% in Denmark. The gains suggest Tesla may be beginning to recover from its prolonged global sales slump. Tesla registrations surge across Northern Europe in October
• Positive Sentiment: Tesla’s Cybercab and robotaxi expansion remains a major part of the bullish investment case. New or expanded operations in Texas, Nevada and other U.S. markets could create higher-margin, recurring software and mobility revenue if Tesla reaches its targeted operating cost of roughly $0.30 per paid mile. Cybercab Expansion Might Change the Case for Investing in Tesla Stock
• Neutral Sentiment: Tesla may be reconsidering a larger role for Taiwan Semiconductor Manufacturing Co. in its Texas Terafab chip project. TSMC’s manufacturing expertise could improve execution, although the report also suggests Tesla may have less direct control over a strategically important initiative. Tesla’s Terafab May Reportedly Lean on TSMC After All
• Neutral Sentiment: Reports that Tesla and SpaceX are exploring a combination continue to generate speculative upside scenarios, but the transaction would require agreement on valuation, exchange terms and shareholder approval. The potential deal is not yet a completed corporate action. Barclays Says a SpaceX Merger Is Now a Key Part of the Tesla Bull Case
• Negative Sentiment: Investor Gary Black says Tesla’s U.S. EV share has fallen from approximately 80% to 52% as smaller and lesser-known rivals gain ground. His call for stronger marketing highlights competitive pressure and could weigh on confidence in Tesla’s ability to justify its very high valuation. Gary Black Says Tesla Is Losing EV Share
• Negative Sentiment: BYD, Xiaomi and XPeng reported strong October sales in China, reinforcing the threat from increasingly capable local competitors. That pressure is especially important because Tesla trades at a substantial earnings premium despite modest profitability and recently declining revenue. Tesla China EV Rivals Report Strong Sales

Tesla Stock Performance

Shares of Tesla stock opened at $399.81 on Monday. The firm has a market capitalization of $1.58 trillion, a PE ratio of 439.36, a price-to-earnings-growth ratio of 24.77 and a beta of 1.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.74 and a quick ratio of 1.39. The company’s fifty day moving average price is $369.61 and its two-hundred day moving average price is $385.81. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The company had revenue of $28.05 billion during the quarter, compared to the consensus estimate of $28.06 billion. During the same period last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts expect that Tesla, Inc. will post 0.67 EPS for the current year.

Tesla Profile

Tesla, Inc is an electric vehicle and clean energy company headquartered in Austin, Texas. Founded in 2003, the company designs, manufactures and sells electric vehicles, including the Model S, Model 3, Model X, Model Y and Cybertruck. Tesla also develops vehicle software, driver-assistance features and related services intended to support the operation and ownership of its vehicles.

Beyond automobiles, Tesla produces energy storage products for residential, commercial and utility-scale applications, including the Powerwall and Megapack.