Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Tidemark LLC

Tidemark LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,586 shares of the electric vehicle producer’s stock after selling 2,637 shares during the quarter. Tesla comprises about 1.5% of Tidemark LLC’s investment portfolio, making the stock its 15th largest position. Tidemark LLC’s holdings in Tesla were worth $3,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the fourth quarter valued at $46,000. Parkworth Wealth Management Inc. acquired a new position in shares of Tesla during the 4th quarter worth $47,000. PayPay Securities Corp boosted its position in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in Tesla during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent research reports. Robert W. Baird reduced their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Glj Research reiterated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Benchmark began coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target for the company. Wedbush restated an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a research report on Friday, March 7th. Finally, Mizuho reiterated an “outperform” rating and set a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $325.65.

Tesla Price Performance

TSLA stock opened at $249.98 on Friday. The stock has a 50-day simple moving average of $351.31 and a 200-day simple moving average of $319.51. The firm has a market cap of $804.06 billion, a P/E ratio of 122.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla 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.