Tesla, Inc. (NASDAQ:TSLA) Stake Lowered by Sivia Capital Partners LLC

Sivia Capital Partners LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,421 shares of the electric vehicle producer’s stock after selling 244 shares during the period. Tesla makes up 1.1% of Sivia Capital Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Sivia Capital Partners LLC’s holdings in Tesla were worth $1,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Azzad Asset Management Inc. ADV grew its holdings in Tesla by 4.0% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 39,186 shares of the electric vehicle producer’s stock worth $6,888,000 after acquiring an additional 1,504 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares in the last quarter. Sloy Dahl & Holst LLC grew its position in Tesla by 3.0% during the 1st quarter. Sloy Dahl & Holst LLC now owns 1,152,228 shares of the electric vehicle producer’s stock worth $202,550,000 after acquiring an additional 33,733 shares during the last quarter. Integrity Wealth Solutions LLC grew its position in shares of Tesla by 3.1% in the 1st quarter. Integrity Wealth Solutions LLC now owns 11,495 shares of the electric vehicle producer’s stock valued at $2,021,000 after buying an additional 341 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in shares of Tesla by 4.3% in the 1st quarter. SeaCrest Wealth Management LLC now owns 15,941 shares of the electric vehicle producer’s stock valued at $2,802,000 after buying an additional 662 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TSLA. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research note on Monday, April 22nd. JPMorgan Chase & Co. lowered their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price objective on shares of Tesla in a research note on Monday. Mizuho cut their target price on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Finally, Stifel Nicolaus assumed coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price for the company. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $189.47.

Tesla Trading Up 4.7 %

Shares of NASDAQ:TSLA traded up $10.87 during trading on Wednesday, reaching $242.13. 119,950,492 shares of the company traded hands, compared to its average volume of 96,706,469. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The firm has a market capitalization of $772.20 billion, a price-to-earnings ratio of 62.16, a P/E/G ratio of 4.91 and a beta of 2.31. The business’s fifty day moving average is $180.89 and its 200-day moving average is $190.93.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. As a group, analysts forecast that Tesla, Inc. will post 1.86 EPS for the current year.

About Tesla

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.