Daymark Wealth Partners LLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,698 shares of the electric vehicle producer's stock after selling 8,102 shares during the quarter. Daymark Wealth Partners LLC's holdings in Tesla were worth $5,623,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank boosted its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC increased its stake in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. lifted its position in 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 during the period. 66.20% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Tesla news, Director Joseph Gebbia acquired 4,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the transaction, the director now owns 4,111 shares of the company's stock, valued at approximately $1,053,690.41. The trade was a 3,603.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company's stock.
Tesla Stock Performance
TSLA opened at $327.55 on Thursday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The firm has a market capitalization of $1.06 trillion, a PE ratio of 179.97, a PEG ratio of 12.73 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average price is $311.59 and its 200 day moving average price is $331.45.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Glj Research reiterated a "sell" rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and an average target price of $294.58.
Check Out Our Latest Report on Tesla
Tesla Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).
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