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

DeDora Capital Inc. reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the 4th quarter, Holdings Channel reports. The fund owned 19,246 shares of the electric vehicle producer’s stock after selling 422 shares during the period. Tesla makes up about 2.1% of DeDora Capital Inc.’s holdings, making the stock its 15th largest holding. DeDora Capital Inc.’s holdings in Tesla were worth $7,772,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after buying an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TSLA shares. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Wedbush lifted their price objective on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. UBS Group increased their target price on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Evercore ISI lifted their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $440.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $326.50.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.0 %

TSLA opened at $355.84 on Tuesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $406.31 and a 200-day simple moving average of $308.78. The firm has a market cap of $1.14 trillion, a P/E ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34.

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 the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current year.

About Tesla

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.