Regatta Capital Group LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Regatta Capital Group LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.1% during the first quarter, Holdings Channel.com reports. The firm owned 14,629 shares of the electric vehicle producer’s stock after selling 2,197 shares during the period. Tesla accounts for about 0.7% of Regatta Capital Group LLC’s portfolio, making the stock its 26th largest position. Regatta Capital Group LLC’s holdings in Tesla were worth $3,791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla in the fourth quarter worth about $56,600,000. Strategic Family Wealth Counselors L.L.C. grew its holdings in shares of Tesla by 133.7% in the fourth 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 purchasing an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. bought a new position in shares of Tesla in the fourth quarter worth about $8,158,000. Vontobel Holding Ltd. grew its holdings in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after purchasing an additional 60,342 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Tesla by 451.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer’s stock worth $115,143,000 after purchasing an additional 233,460 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays dropped their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Bank of America dropped their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Robert W. Baird reiterated a “neutral” rating and set a $320.00 target price on shares of Tesla in a report on Monday. Finally, Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $293.67.

Insider Transactions at Tesla

In related news, Director Joseph Gebbia acquired 4,000 shares of Tesla stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the acquisition, the director now owns 4,111 shares in the company, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the sale, the chief financial officer now owns 5,924 shares in the company, valued at approximately $1,692,546.04. This trade represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock worth $273,791,775 in the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 4.6%

Shares of TSLA stock opened at $308.58 on Tuesday. The stock’s fifty day moving average is $292.68 and its two-hundred day moving average is $333.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $993.92 billion, a P/E ratio of 151.27, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 firm had revenue of $19.34 billion during 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 previous year, the business posted $0.45 EPS. Research analysts expect 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.