Daymark Wealth Partners LLC Sells 1,729 Shares of Tesla, Inc. (NASDAQ:TSLA)

Daymark Wealth Partners LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,703 shares of the electric vehicle producer’s stock after selling 1,729 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Tesla were worth $8,294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC grew its position in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC raised its stake in Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Tesla by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after buying an additional 412,872 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 0.1 %

TSLA stock traded up $0.29 on Wednesday, hitting $244.79. 32,277,893 shares of the company’s stock were exchanged, compared to its average volume of 94,887,281. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market cap of $782.02 billion, a P/E ratio of 62.55, a price-to-earnings-growth ratio of 6.80 and a beta of 2.29. The firm has a 50 day moving average price of $224.61 and a two-hundred day moving average price of $202.78. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TSLA. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Argus reaffirmed a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. TD Cowen raised their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and upped their target price for the company from $147.00 to $197.00 in a report on Friday, July 12th. Finally, Guggenheim lifted their price target on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $210.90.

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.