Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Trimmed by Oder Investment Management LLC

Oder Investment Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,133 shares of the electric vehicle producer’s stock after selling 128 shares during the quarter. Tesla accounts for about 2.7% of Oder Investment Management LLC’s portfolio, making the stock its 10th largest position. Oder Investment Management LLC’s holdings in Tesla were worth $3,144,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rinkey Investments grew its stake in Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC grew its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Aldebaran Financial Inc. grew its stake in Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock valued at $490,000 after purchasing an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC grew its stake in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after purchasing an additional 36 shares during the last quarter. Finally, Solutions 4 Wealth Ltd grew its stake in Tesla by 2.0% during the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after purchasing an additional 36 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on TSLA shares. JPMorgan Chase & Co. dropped their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Argus restated a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Finally, HSBC reaffirmed a “reduce” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $303.31.

Tesla Trading Down 1.5%

TSLA opened at $330.56 on Friday. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. The business has a fifty day simple moving average of $320.41 and a 200-day simple moving average of $305.81. The firm has a market cap of $1.07 trillion, a P/E ratio of 191.08, a P/E/G ratio of 11.67 and a beta of 2.33. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock valued at $213,126,501 in the last three months. 20.70% of the stock is currently owned by insiders.

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.