Regatta Capital Group LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,319 shares of the electric vehicle producer's stock after selling 1,310 shares during the quarter. Tesla comprises about 0.7% of Regatta Capital Group LLC's holdings, making the stock its 28th largest position. Regatta Capital Group LLC's holdings in Tesla were worth $4,231,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC purchased a new stake in Tesla in the 1st quarter valued at approximately $3,247,619,000. GAMMA Investing LLC boosted its holdings in Tesla by 27,378.6% in 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 in the last quarter. Kingstone Capital Partners Texas LLC boosted its holdings in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares in the last quarter. Finally, Amundi boosted its holdings in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.
Tesla Price Performance
TSLA stock opened at $442.79 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a market cap of $1.47 trillion, a price-to-earnings ratio of 255.95, a PEG ratio of 14.86 and a beta of 2.06. The firm has a 50 day moving average of $347.75 and a 200-day moving average of $311.58.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on TSLA. UBS Group reaffirmed a "sell" rating on shares of Tesla in a report on Monday. Benchmark reaffirmed a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a report on Friday, September 5th. Finally, Canaccord Genuity Group lifted their price target on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $326.74.
View Our Latest Research Report on TSLA
Insider Buying and Selling
In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 in the last ninety days. Insiders own 19.90% of the company's stock.
Tesla Profile
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Free Report)
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.
See Also
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