Cavalier Investments LLC Makes New $3.34 Million Investment in Tesla, Inc. $TSLA

Cavalier Investments LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,513 shares of the electric vehicle producer’s stock, valued at approximately $3,340,000. Tesla comprises about 1.0% of Cavalier Investments LLC’s portfolio, making the stock its 23rd biggest position.

Other large investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in Tesla during the 1st quarter worth approximately $27,000. Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% during the 1st 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. Centennial Bank AR raised its stake in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the 2nd quarter worth approximately $29,000. Finally, Compass Wealth Management LLC raised its stake in shares of Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 1.1%

TSLA opened at $442.60 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $391.74 and its 200 day simple moving average is $336.26. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The stock has a market cap of $1.47 trillion, a PE ratio of 255.84, a price-to-earnings-growth ratio of 16.08 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were 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 approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group upped their price objective on Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. TD Cowen upped their price objective on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research note on Monday. UBS Group set a $247.00 price objective on Tesla in a research note on Monday, October 6th. Finally, Piper Sandler increased their price target on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $363.54.

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.