Regatta Capital Group LLC Sells 2,197 Shares of Tesla, Inc. (NASDAQ:TSLA)

Regatta Capital Group LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 14,629 shares of the electric vehicle producer's stock after selling 2,197 shares during the period. Tesla accounts for approximately 0.7% of Regatta Capital Group LLC's holdings, 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.

Several other large investors have also modified their holdings of the stock. Norges Bank bought a new stake in shares of Tesla in the 4th quarter valued at approximately $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% during the fourth 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 raised its holdings in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Tesla by 4,963.0% in 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 buying an additional 5,719,466 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director now directly owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock worth $273,791,775 in the last 90 days. Company insiders own 20.70% of the company's stock.

Tesla Trading Up 5.7%

NASDAQ TSLA traded up $17.51 on Tuesday, hitting $326.09. 150,182,854 shares of the stock were exchanged, compared to its average volume of 100,229,452. The company's 50-day moving average price is $292.68 and its two-hundred day moving average price is $333.20. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 159.85, a P/E/G ratio of 5.86 and a beta of 2.47.

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

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent research reports. Wedbush set a $500.00 target price on shares of Tesla in a report on Thursday, June 5th. Benchmark reissued a "buy" rating and issued a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Roth Mkm lowered their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $293.67.

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.