Regatta Capital Group LLC Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Regatta Capital Group LLC cut its position in Tesla, Inc. (NASDAQ:TSLA) by 13.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,629 shares of the electric vehicle producer’s stock after selling 2,197 shares during the quarter. Tesla comprises 0.7% of Regatta Capital Group LLC’s investment portfolio, making the stock its 26th biggest position. Regatta Capital Group LLC’s holdings in Tesla were worth $3,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Tesla in the 4th quarter worth $14,420,248,000. FMR LLC grew its holdings in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $24,274,300. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $308.58 on Tuesday. The company has a 50 day moving average price of $292.68 and a 200-day moving average price of $333.20. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $993.92 billion, a PE ratio of 151.27, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TSLA shares. Roth Mkm cut their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Raymond James lowered shares of Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Wedbush set a $500.00 price target on shares of Tesla in a report on Thursday, June 5th. Finally, Benchmark reissued a “buy” rating and issued a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $293.67.

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.