Tidemark LLC Invests $2.49 Million in Tesla, Inc. (NASDAQ:TSLA)

Tidemark LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,003 shares of the electric vehicle producer's stock, valued at approximately $2,486,000. Tesla comprises 1.6% of Tidemark LLC's holdings, making the stock its 15th biggest holding.

A number of other hedge funds have also recently modified their holdings of the stock. WealthPlan Investment Management LLC grew its position in shares of Tesla by 20,641.9% in the third quarter. WealthPlan Investment Management LLC now owns 12,860 shares of the electric vehicle producer's stock valued at $3,218,000 after purchasing an additional 12,798 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in shares of Tesla in the third quarter valued at $209,000. US Bancorp DE raised its stake in shares of Tesla by 2.9% in the third quarter. US Bancorp DE now owns 253,584 shares of the electric vehicle producer's stock valued at $63,452,000 after acquiring an additional 7,173 shares in the last quarter. D.B. Root & Company LLC raised its stake in Tesla by 1.1% in the third quarter. D.B. Root & Company LLC now owns 6,838 shares of the electric vehicle producer's stock valued at $1,711,000 after buying an additional 75 shares in the last quarter. Finally, Column Capital Advisors LLC increased its position in shares of Tesla by 9.6% during the third quarter. Column Capital Advisors LLC now owns 1,527 shares of the electric vehicle producer's stock worth $382,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company's stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company's stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders sold a total of 209,097 shares of company stock worth $37,877,471 in the last three months. 20.90% of the stock is currently owned by company insiders.

Tesla Stock Down 3.5 %

Shares of NASDAQ:TSLA traded down $6.49 on Wednesday, hitting $180.11. 88,122,390 shares of the company traded hands, compared to its average volume of 101,175,844. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $170.94 and a 200-day simple moving average of $201.90. The company has a market cap of $574.41 billion, a PE ratio of 46.36, a PEG ratio of 4.83 and a beta of 2.41.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. As a group, research analysts expect that Tesla, Inc. will post 1.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Tesla from $176.00 to $162.00 and set a "hold" rating on the stock in a research note on Wednesday, April 24th. Redburn Atlantic started coverage on shares of Tesla in a research report on Wednesday, January 24th. They issued a "sell" rating and a $170.00 price target for the company. JPMorgan Chase & Co. cut their target price on shares of Tesla from $130.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 3rd. HSBC cut their price target on shares of Tesla from $138.00 to $120.00 and set a "reduce" rating on the stock in a report on Wednesday, April 24th. Finally, Roth Mkm reiterated a "neutral" rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $185.90.

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.

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