Dudley Capital Management LLC Acquires 606 Shares of Tesla, Inc. (NASDAQ:TSLA)

Dudley Capital Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.7% during the 4th quarter, HoldingsChannel reports. The firm owned 8,445 shares of the electric vehicle producer’s stock after purchasing an additional 606 shares during the period. Tesla comprises approximately 1.7% of Dudley Capital Management LLC’s holdings, making the stock its 15th largest holding. Dudley Capital Management LLC’s holdings in Tesla were worth $3,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. CoreFirst Bank & Trust bought a new position in Tesla during the 4th quarter worth about $38,000. Grantvest Financial Group LLC bought a new position in shares of Tesla during the fourth quarter worth about $512,000. Prudential Financial Inc. raised its position in Tesla by 0.5% in the 4th quarter. Prudential Financial Inc. now owns 2,637,631 shares of the electric vehicle producer’s stock valued at $1,065,181,000 after buying an additional 13,001 shares during the last quarter. Jackson Thornton Wealth Management LLC bought a new stake in Tesla in the 4th quarter valued at approximately $773,000. Finally, Woodmont Investment Counsel LLC acquired a new position in Tesla during the 4th quarter worth approximately $1,162,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 11.9 %

Shares of TSLA stock opened at $278.39 on Tuesday. The stock has a 50 day simple moving average of $332.69 and a 200 day simple moving average of $321.49. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $895.45 billion, a P/E ratio of 136.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a research report on Thursday, March 20th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Piper Sandler lowered their target price on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Finally, UBS Group lowered their price target on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $318.93.

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.