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

Key Points

• Dudley Capital Management LLC reduced its stake in Tesla, Inc. by 21.7%, owning 6,610 shares worth approximately $1.71 million after selling 1,835 shares in the first quarter.
• Tesla reported $0.40 EPS for the last quarter, missing estimates by $0.03, with revenue declining 11.8% year-over-year to $22.50 billion.
• Analysts are divided on Tesla's prospects, with a range of price targets from as low as $120 to as high as $475, and an average price target of $302.75.

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

Other large investors also recently added to or reduced their stakes in the company. Rinkey Investments increased its stake in Tesla by 3.5% during 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. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Aldebaran Financial Inc. lifted its holdings in Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after purchasing an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC lifted its holdings in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares during the last quarter. Finally, Capital Management Associates Inc lifted its holdings in Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after purchasing an additional 38 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA stock traded down $3.29 during trading on Wednesday, reaching $317.91. 45,545,782 shares of the stock were exchanged, compared to its average volume of 107,928,727. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a market capitalization of $1.03 trillion, a P/E ratio of 183.99, a price-to-earnings-growth ratio of 11.13 and a beta of 2.39. The stock has a 50 day simple moving average of $323.92 and a 200-day simple moving average of $313.10. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm posted $0.52 EPS. The business's revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BNP Paribas set a $137.00 price target on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Finally, Wedbush reiterated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Tuesday, July 22nd. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% 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 6,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares of the company's stock, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 723,119 shares of company stock worth $247,324,149 over the last ninety days. Insiders own 20.70% of the company's stock.

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.