DeDora Capital Inc. Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

DeDora Capital Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 3.7% during the first quarter, HoldingsChannel.com reports. The firm owned 19,150 shares of the electric vehicle producer’s stock after purchasing an additional 685 shares during the period. Tesla makes up 1.1% of DeDora Capital Inc.’s portfolio, making the stock its 22nd biggest position. DeDora Capital Inc.’s holdings in Tesla were worth $3,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Bailard Inc. raised its position in Tesla by 27.1% in the 3rd quarter. Bailard Inc. now owns 6,878 shares of the electric vehicle producer’s stock worth $1,721,000 after purchasing an additional 1,465 shares during the period. Brown Advisory Inc. raised its position in Tesla by 6.6% in the 3rd quarter. Brown Advisory Inc. now owns 25,999 shares of the electric vehicle producer’s stock worth $6,505,000 after purchasing an additional 1,604 shares during the period. BLB&B Advisors LLC raised its position in Tesla by 4.0% in the 3rd quarter. BLB&B Advisors LLC now owns 3,051 shares of the electric vehicle producer’s stock worth $763,000 after purchasing an additional 117 shares during the period. SFE Investment Counsel purchased a new stake in Tesla in the 3rd quarter worth about $222,000. Finally, Strategic Investment Advisors MI raised its position in Tesla by 13.0% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,769 shares of the electric vehicle producer’s stock worth $443,000 after purchasing an additional 204 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TSLA shares. Evercore ISI reduced their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, April 29th. TD Cowen dropped their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Wednesday, April 24th. Wells Fargo & Company dropped their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, April 12th. Finally, Citigroup upped their target price on shares of Tesla from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $185.90.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last 90 days. 25.10% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $1.18 during trading on Friday, hitting $181.19. The company had a trading volume of 75,491,539 shares, compared to its average volume of 112,969,304. The stock has a fifty day simple moving average of $173.85 and a two-hundred day simple moving average of $205.42. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The firm has a market capitalization of $577.85 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 4.71 and a beta of 2.41. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

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.