DeDora Capital Inc. Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

DeDora Capital Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,668 shares of the electric vehicle producer’s stock after selling 214 shares during the quarter. Tesla accounts for 1.4% of DeDora Capital Inc.’s holdings, making the stock its 18th largest holding. DeDora Capital Inc.’s holdings in Tesla were worth $5,146,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bank & Trust Co purchased a new position in Tesla during the second quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group increased its stake in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. increased its stake in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSLA. TD Cowen raised their target price on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Citigroup dropped their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $211.63.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 over the last ninety days. Company insiders own 25.10% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA traded down $1.71 on Tuesday, reaching $217.14. The company’s stock had a trading volume of 7,987,893 shares, compared to its average volume of 93,712,359. The firm has a market cap of $692.50 billion, a PE ratio of 55.52, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The business has a 50-day moving average price of $228.09 and a 200 day moving average price of $205.99. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the company earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

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.