Regal Investment Advisors LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 28.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Paragon Capital Management Ltd bought a new stake in Tesla in the 4th quarter valued at approximately $25,000. AllSquare Wealth Management LLC lifted its stake in Tesla by 766.7% in the 4th quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 23 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in Tesla in the 4th quarter valued at approximately $31,000. Kathleen S. Wright Associates Inc. bought a new stake in Tesla in the 4th quarter valued at approximately $32,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Tesla in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 40.64% of the company’s stock.
In other Tesla news, CEO Elon Musk sold 345,601 shares of the stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $898.00, for a total value of $310,349,698.00. Following the completion of the transaction, the chief executive officer now directly owns 168,193,251 shares in the company, valued at $151,037,539,398. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Vaibhav Taneja sold 1,535 shares of the stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $845.39, for a total value of $1,297,673.65. The disclosure for this sale can be found here. Insiders sold 418,251 shares of company stock worth $374,394,436 over the last ninety days. 25.00% of the stock is currently owned by insiders.
Tesla (NASDAQ:TSLA – Get Rating) last released its quarterly earnings data on Wednesday, April 20th. The electric vehicle producer reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.96. The business had revenue of $18.76 billion for the quarter, compared to analyst estimates of $17.84 billion. Tesla had a return on equity of 28.11% and a net margin of 13.51%. Tesla’s revenue was up 80.5% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 10.39 EPS for the current fiscal year.
Several research firms have commented on TSLA. Wells Fargo & Company cut their target price on Tesla from $960.00 to $900.00 in a research note on Wednesday. Canaccord Genuity Group upped their price objective on Tesla from $1,040.00 to $1,200.00 in a research note on Friday, January 28th. StockNews.com began coverage on Tesla in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Sanford C. Bernstein upped their price objective on Tesla from $300.00 to $450.00 and gave the stock an “underperform” rating in a research note on Monday, February 28th. Finally, UBS Group upped their price objective on Tesla from $1,000.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Monday, April 4th. Eight investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $956.97.
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.
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