Tesla, Inc. $TSLA Shares Bought by Sicart Associates LLC

Sicart Associates LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,232 shares of the electric vehicle producer’s stock after purchasing an additional 4,353 shares during the period. Tesla comprises about 4.7% of Sicart Associates LLC’s holdings, making the stock its 5th biggest holding. Sicart Associates LLC’s holdings in Tesla were worth $19,592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Tesla in the second quarter worth about $25,000. Harborfront Financial Group LLC acquired a new stake in shares of Tesla during the second quarter valued at approximately $34,000. Montgomery Financial Services LLC acquired a new position in Tesla in the 2nd quarter worth approximately $40,000. Timbuktu Capital Management LLC acquired a new position in Tesla in the 2nd quarter worth approximately $42,000. Finally, Navigoe LLC purchased a new position in Tesla during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. UBS Group raised Tesla from a “neutral” rating to a “buy” rating in a research report on Monday, October 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Tesla in a research note on Monday, October 19th. Deutsche Bank Aktiengesellschaft started coverage on Tesla in a research note on Monday, October 26th. They set a “buy” rating on the stock. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a report on Thursday, October 22nd. Finally, Stifel Nicolaus set a $475.00 price target on shares of Tesla in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of “Moderate Buy” and an average price target of $414.51.

Tesla News Summary

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

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total transaction of $938,498.78. Following the transaction, the chief financial officer owned 25,972 shares in the company, valued at approximately $9,353,296.36. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $399.81 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.74 and a quick ratio of 1.39. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83. The business’s 50-day moving average price is $369.61 and its two-hundred day moving average price is $385.81. The company has a market capitalization of $1.58 trillion, a P/E ratio of 439.36, a price-to-earnings-growth ratio of 24.77 and a beta of 1.74.

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