Reyes Financial Architecture Inc. Sells 2,888 Shares of Tesla, Inc. (NASDAQ:TSLA)

Reyes Financial Architecture Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,921 shares of the electric vehicle producer's stock after selling 2,888 shares during the quarter. Tesla makes up approximately 0.7% of Reyes Financial Architecture Inc.'s holdings, making the stock its 17th largest position. Reyes Financial Architecture Inc.'s holdings in Tesla were worth $1,016,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Rinkey Investments increased its position in Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after acquiring an additional 29 shares during the period. Pitti Group Wealth Management LLC increased its holdings in shares of Tesla by 2.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after purchasing an additional 31 shares during the period. True Wealth Design LLC raised its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. Finally, Aldebaran Financial Inc. grew its position in Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after buying an additional 35 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA traded up $3.64 on Friday, hitting $313.51. The company had a trading volume of 78,861,329 shares, compared to its average volume of 99,596,575. The stock has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.26, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company's fifty day moving average price is $322.60 and its 200 day moving average price is $320.26. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the company posted $0.45 earnings per share. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Benchmark restated 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. Wedbush reaffirmed an "outperform" rating and set a $500.00 target price on shares of Tesla in a report on Tuesday, July 8th. Finally, Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $300.19.

Insiders Place Their Bets

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on 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 directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

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.