Daymark Wealth Partners LLC Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Daymark Wealth Partners LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,703 shares of the electric vehicle producer’s stock after selling 1,729 shares during the period. 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 large investors also recently bought and sold shares of TSLA. Bank & Trust Co purchased a new position in Tesla in the 2nd quarter valued at about $25,000. Clean Yield Group raised its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter worth approximately $26,000. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TSLA shares. The Goldman Sachs Group lowered their target price on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, September 26th. Canaccord Genuity Group reiterated a “buy” rating and set a $254.00 price objective on shares of Tesla in a research report on Friday, September 13th. Citigroup dropped their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $210.90.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’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 sale, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock traded up $0.29 on Wednesday, hitting $244.79. The company’s stock had a trading volume of 32,277,893 shares, compared to its average volume of 94,887,281. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $224.61 and a 200-day moving average price of $202.78. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a market capitalization 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.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during 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 firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.