Catalina Capital Group LLC Has $704,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

Catalina Capital Group LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 63.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,718 shares of the electric vehicle producer’s stock after selling 4,727 shares during the period. Catalina Capital Group LLC’s holdings in Tesla were worth $704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new stake in shares of Tesla in the 4th quarter valued at approximately $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. GAMMA Investing LLC raised its position in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Finally, Northern Trust Corp raised its position in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the chief financial officer now directly owns 1,950 shares of the company’s stock, valued at $682,500. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Roth Mkm cut 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. UBS Group dropped their target price on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Royal Bank Of Canada dropped their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, Robert W. Baird restated a “neutral” rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $293.67.

Tesla Price Performance

NASDAQ:TSLA opened at $322.05 on Thursday. Tesla, Inc. has a 1-year low of $179.66 and a 1-year high of $488.54. 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 firm has a fifty day simple moving average of $303.42 and a 200 day simple moving average of $332.59. The stock has a market capitalization of $1.04 trillion, a PE ratio of 176.95, a P/E/G ratio of 11.88 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the business posted $0.45 earnings per share. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS 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.