Udine Wealth Management Inc. Acquires 681 Shares of Tesla, Inc. (NASDAQ:TSLA)

Udine Wealth Management Inc. raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,514 shares of the electric vehicle producer’s stock after acquiring an additional 681 shares during the period. Tesla comprises 1.8% of Udine Wealth Management Inc.’s holdings, making the stock its 12th biggest holding. Udine Wealth Management Inc.’s holdings in Tesla were worth $2,725,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. True Wealth Design LLC grew its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. boosted its stake in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. boosted its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the fourth quarter valued at about $38,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.7%

NASDAQ TSLA opened at $295.14 on Friday. The company has a market cap of $950.63 billion, a price-to-earnings ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The business has a 50 day moving average price of $292.17 and a 200-day moving average price of $333.62. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company posted $0.45 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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 stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on TSLA. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Argus set a $410.00 price target on Tesla in a research note on Thursday, April 24th. Guggenheim reaffirmed a “sell” rating and issued a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $294.27.

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.