Reyes Financial Architecture Inc. Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Reyes Financial Architecture Inc. lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,921 shares of the electric vehicle producer's stock after selling 2,888 shares during the quarter. Tesla accounts for about 0.7% of Reyes Financial Architecture Inc.'s investment portfolio, making the stock its 17th biggest holding. Reyes Financial Architecture Inc.'s holdings in Tesla were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in TSLA. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla in the fourth quarter valued at about $56,600,000. Means Investment CO. Inc. increased its position in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. increased its position in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the period. IFM Investors Pty Ltd increased its position in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. bought a new position in Tesla during the fourth quarter worth about $8,158,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $10.89 during midday trading on Wednesday, reaching $321.67. The company had a trading volume of 96,688,793 shares, compared to its average volume of 99,116,733. The company's 50 day moving average price is $324.04 and its 200 day moving average price is $318.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.04 trillion, a P/E ratio of 176.74, a P/E/G ratio of 9.26 and a beta of 2.39. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.

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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the firm posted $0.45 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Roth Mkm lowered their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird reiterated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. The Goldman Sachs Group reduced their price objective on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $300.19.

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.