Regal Investment Advisors LLC Sells 430 Shares of Tesla, Inc. (NASDAQ:TSLA)

Regal Investment Advisors LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 28.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,094 shares of the electric vehicle producer’s stock after selling 430 shares during the quarter. Regal Investment Advisors LLC’s holdings in Tesla were worth $1,156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Banque Pictet & Cie SA grew its holdings in Tesla by 38,084.4% during the fourth quarter. Banque Pictet & Cie SA now owns 1,494,920 shares of the electric vehicle producer’s stock valued at $1,579,802,000 after purchasing an additional 1,491,005 shares during the last quarter. Clear Street LLC acquired a new position in Tesla during the fourth quarter valued at approximately $1,447,578,000. Geode Capital Management LLC grew its holdings in Tesla by 7.0% during the third quarter. Geode Capital Management LLC now owns 13,169,939 shares of the electric vehicle producer’s stock valued at $10,183,430,000 after purchasing an additional 858,839 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Tesla by 299.6% during the third quarter. Renaissance Technologies LLC now owns 813,975 shares of the electric vehicle producer’s stock valued at $631,221,000 after purchasing an additional 610,300 shares during the last quarter. Finally, TD Asset Management Inc. grew its holdings in Tesla by 121.5% during the fourth quarter. TD Asset Management Inc. now owns 1,084,513 shares of the electric vehicle producer’s stock valued at $1,146,092,000 after purchasing an additional 594,905 shares during the last quarter. 40.64% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on TSLA. Wedbush began coverage on shares of Tesla in a research note on Monday, April 4th. They issued a “buy” rating and a $1,400.00 price objective on the stock. Canaccord Genuity Group raised their price objective on shares of Tesla from $1,040.00 to $1,200.00 in a research note on Friday, January 28th. Cowen raised their price objective on shares of Tesla from $660.00 to $790.00 and gave the stock a “market perform” rating in a research note on Monday, April 4th. Daiwa Capital Markets upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $980.00 to $900.00 in a research note on Friday, February 25th. Finally, Royal Bank of Canada raised their price objective on shares of Tesla from $1,035.00 to $1,175.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 21st. Eight investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $956.97.

In other news, CAO Vaibhav Taneja sold 1,535 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $845.39, for a total transaction of $1,297,673.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 897 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $845.39, for a total value of $758,314.83. The disclosure for this sale can be found here. Insiders have sold a total of 418,251 shares of company stock valued at $374,394,436 over the last three months. Company insiders own 25.00% of the company’s stock.

Shares of Tesla stock traded up $41.59 during trading on Friday, reaching $769.59. The company’s stock had a trading volume of 30,659,473 shares, compared to its average volume of 25,988,598. The stock has a 50-day moving average price of $939.30 and a two-hundred day moving average price of $981.68. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a one year low of $546.98 and a one year high of $1,243.49. The stock has a market capitalization of $797.30 billion, a P/E ratio of 104.42, a price-to-earnings-growth ratio of 2.35 and a beta of 2.11.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The electric vehicle producer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.96. The firm had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $17.84 billion. Tesla had a return on equity of 28.11% and a net margin of 13.51%. The company’s quarterly revenue was up 80.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 10.39 EPS for the current fiscal year.

Tesla Profile (Get Rating)

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.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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