Daymark Wealth Partners LLC Has $12.03 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Daymark Wealth Partners LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 6.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 29,800 shares of the electric vehicle producer’s stock after selling 1,903 shares during the period. Daymark Wealth Partners LLC’s holdings in Tesla were worth $12,034,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Finley Financial LLC bought a new stake in shares of Tesla during the fourth quarter worth about $64,000. Melfa Wealth Management Inc. acquired a new position in Tesla during the 4th quarter valued at about $540,000. Albion Financial Group UT increased its holdings in Tesla by 0.5% during the 4th quarter. Albion Financial Group UT now owns 7,099 shares of the electric vehicle producer’s stock worth $2,867,000 after purchasing an additional 34 shares in the last quarter. ERTS Wealth Advisors LLC purchased a new stake in shares of Tesla in the fourth quarter worth approximately $262,000. Finally, Global Trust Asset Management LLC lifted its holdings in shares of Tesla by 1.3% in the fourth quarter. Global Trust Asset Management LLC now owns 4,200 shares of the electric vehicle producer’s stock valued at $1,696,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TSLA shares. Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Stifel Nicolaus upped their price objective on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Barclays upped their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $313.84.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $406.58 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.31 trillion, a P/E ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. The company has a 50 day moving average of $397.11 and a 200 day moving average of $292.97.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Tesla Company 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.