Dudley Capital Management LLC Sells 1,835 Shares of Tesla, Inc. (NASDAQ:TSLA)

Dudley Capital Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 21.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,610 shares of the electric vehicle producer’s stock after selling 1,835 shares during the quarter. Dudley Capital Management LLC’s holdings in Tesla were worth $1,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Second Half Financial Partners LLC bought a new position in Tesla in the 1st quarter valued at $300,000. Alteri Wealth LLC boosted its stake in Tesla by 0.6% during the first quarter. Alteri Wealth LLC now owns 7,498 shares of the electric vehicle producer’s stock valued at $1,943,000 after buying an additional 42 shares during the period. MRP Capital Investments LLC grew its position in Tesla by 1.8% during the first quarter. MRP Capital Investments LLC now owns 2,848 shares of the electric vehicle producer’s stock worth $738,000 after buying an additional 50 shares in the last quarter. Waddell & Associates LLC bought a new position in Tesla in the 1st quarter worth about $538,000. Finally, Inspire Advisors LLC raised its holdings in shares of Tesla by 11.0% in the 1st quarter. Inspire Advisors LLC now owns 2,214 shares of the electric vehicle producer’s stock valued at $574,000 after acquiring an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $316.06 on Friday. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 182.69, a P/E/G ratio of 12.00 and a beta of 2.39. The business’s fifty day simple moving average is $324.70 and its two-hundred day simple moving average is $314.09. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (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 company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director owned 85,000 shares of the company’s stock, valued at $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their price objective on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday. Guggenheim restated a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday. Benchmark reissued a “buy” rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, HSBC reaffirmed a “reduce” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $302.75.

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.