Tidemark LLC Sells 1,630 Shares of Tesla, Inc. (NASDAQ:TSLA)

Tidemark LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,223 shares of the electric vehicle producer's stock after selling 1,630 shares during the period. Tesla accounts for about 1.3% of Tidemark LLC's holdings, making the stock its 15th largest holding. Tidemark LLC's holdings in Tesla were worth $3,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. China Universal Asset Management Co. Ltd. increased its holdings in shares of Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer's stock worth $6,399,000 after purchasing an additional 331 shares during the last quarter. Trustmark National Bank Trust Department purchased a new stake in Tesla in the 1st quarter worth about $219,000. PAX Financial Group LLC boosted its position in shares of Tesla by 9.2% during the first quarter. PAX Financial Group LLC now owns 3,276 shares of the electric vehicle producer's stock valued at $576,000 after buying an additional 277 shares during the period. Safeguard Investment Advisory Group LLC grew its stake in shares of Tesla by 27.8% during the first quarter. Safeguard Investment Advisory Group LLC now owns 6,329 shares of the electric vehicle producer's stock valued at $1,113,000 after buying an additional 1,375 shares during the last quarter. Finally, Hilltop Partners LLC lifted its stake in shares of Tesla by 25.4% during the 1st quarter. Hilltop Partners LLC now owns 6,084 shares of the electric vehicle producer's stock worth $1,069,000 after acquiring an additional 1,231 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TSLA shares. Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a report on Thursday. Citigroup decreased their price objective on shares of Tesla from $274.00 to $258.00 and set a "neutral" rating for the company in a research note on Wednesday, July 24th. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They set an "outperform" rating on the stock. StockNews.com raised Tesla from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, Bank of America upped their target price on shares of Tesla from $265.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $230.18.

Tesla Stock Up 5.6 %

NASDAQ:TSLA traded up $18.02 during trading hours on Monday, reaching $338.74. The company had a trading volume of 125,263,227 shares, compared to its average volume of 96,158,813. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 94.60, a P/E/G ratio of 10.42 and a beta of 2.29. The business's 50-day simple moving average is $252.30 and its two-hundred day simple moving average is $221.01.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The business 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 for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. On average, equities analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company's stock, valued at approximately $26,258,000. This represents a 7.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company's stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock worth $57,616,781 in the last quarter. 20.70% of the stock is currently owned by company insiders.

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.