RB Capital Management LLC Has $1.07 Million Position in Tesla, Inc. (NASDAQ:TSLA)

RB Capital Management LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,648 shares of the electric vehicle producer's stock after selling 1,155 shares during the period. RB Capital Management LLC's holdings in Tesla were worth $1,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Wealth Group Ltd. acquired a new stake in Tesla in the 4th quarter valued at $275,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Tesla during the 4th quarter worth about $1,361,000. Tallon Kerry Patrick acquired a new position in shares of Tesla during the 4th quarter worth about $374,000. My Legacy Advisors LLC increased its stake in shares of Tesla by 6.0% during the 4th quarter. My Legacy Advisors LLC now owns 3,879 shares of the electric vehicle producer's stock worth $1,661,000 after purchasing an additional 218 shares during the last quarter. Finally, Renaissance Investment Group LLC acquired a new position in shares of Tesla during the 4th quarter worth about $218,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $334.62 on Thursday. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 164.03, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company's 50 day simple moving average is $272.99 and its 200 day simple moving average is $331.41.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSLA. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a research note on Tuesday, April 22nd. Canaccord Genuity Group lowered their price objective on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. Finally, Barclays reduced their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $289.43.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock worth $116,650,831 over the last three months. Company insiders own 20.70% of the company's stock.

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.

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