Schechter Investment Advisors LLC Has $2.60 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Schechter Investment Advisors LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,043 shares of the electric vehicle producer's stock after selling 2,630 shares during the period. Schechter Investment Advisors LLC's holdings in Tesla were worth $2,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TSLA. True Wealth Design LLC increased its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. increased its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the fourth quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Benchmark reiterated a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, Mizuho dropped their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $300.19.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla 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 transaction, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 over the last quarter. Insiders own 20.70% of the company's stock.

Tesla Stock Up 0.2%

Shares of TSLA traded up $0.58 during mid-day trading on Monday, reaching $314.09. 34,348,224 shares of the stock traded hands, compared to its average volume of 99,346,748. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $322.60 and a 200 day simple moving average of $319.32. The firm has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.47, a P/E/G ratio of 9.33 and a beta of 2.39. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during 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 quarter last year, the firm posted $0.45 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.