Scott & Selber Inc. Sells 729 Shares of Tesla, Inc. (NASDAQ:TSLA)

Scott & Selber Inc. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,889 shares of the electric vehicle producer’s stock after selling 729 shares during the quarter. Scott & Selber Inc.’s holdings in Tesla were worth $3,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rinkey Investments raised its stake in Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after purchasing an additional 29 shares in the last quarter. Ndwm LLC raised its stake in Tesla by 0.8% in the 4th quarter. Ndwm LLC now owns 3,563 shares of the electric vehicle producer’s stock worth $1,439,000 after purchasing an additional 30 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Tesla by 1.3% in the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer’s stock worth $945,000 after purchasing an additional 30 shares in the last quarter. Pitti Group Wealth Management LLC raised its stake in Tesla by 2.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer’s stock worth $594,000 after purchasing an additional 31 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in Tesla by 79.5% in the 4th 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 in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on TSLA shares. Canaccord Genuity Group dropped their price objective on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Glj Research reissued a “sell” rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Raymond James Financial lowered shares of Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Finally, Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $298.37.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Down 0.7%

NASDAQ:TSLA opened at $323.63 on Friday. The firm’s 50 day simple moving average is $314.93 and its 200 day simple moving average is $330.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a market cap of $1.04 trillion, a PE ratio of 177.82, a P/E/G ratio of 12.18 and a beta of 2.47.

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