Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Regatta Capital Group LLC

Regatta Capital Group LLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,629 shares of the electric vehicle producer's stock after selling 2,197 shares during the period. Tesla comprises 0.7% of Regatta Capital Group LLC's investment portfolio, making the stock its 26th biggest holding. 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 also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $56,600,000. Strategic Family Wealth Counselors L.L.C. lifted its position in shares of Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after buying an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. purchased a new stake in shares of Tesla during the 4th quarter worth approximately $8,158,000. Vontobel Holding Ltd. lifted its position in shares of Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after buying an additional 60,342 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Tesla by 451.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer's stock worth $115,143,000 after buying an additional 233,460 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the chief financial officer now directly owns 1,950 shares of the company's stock, valued at approximately $682,500. This represents a 33.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 818,509 shares of company stock valued at $273,791,775. Insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. BNP Paribas set a $137.00 price target on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. HSBC reduced their price target on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $293.67.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $6.20 on Friday, reaching $325.31. 128,417,075 shares of the company were exchanged, compared to its average volume of 100,761,816. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1-year low of $176.92 and a 1-year high of $488.54. The company has a 50-day moving average of $297.32 and a 200-day moving average of $332.97. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the company posted $0.45 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.