Daymark Wealth Partners LLC Sells 8,102 Shares of Tesla, Inc. (NASDAQ:TSLA)

Daymark Wealth Partners LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.2% during the first quarter, Holdings Channel reports. The firm owned 21,698 shares of the electric vehicle producer’s stock after selling 8,102 shares during the period. Daymark Wealth Partners LLC’s holdings in Tesla were worth $5,623,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Tesla in the fourth quarter valued at $14,420,248,000. FMR LLC boosted its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Benchmark restated a “buy” rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. BNP Paribas set a $137.00 price target on Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. Wedbush set a $500.00 price objective on Tesla in a research note on Thursday. Finally, Truist Financial set a $280.00 target price on Tesla in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $294.27.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $295.14 on Monday. The firm’s 50 day simple moving average is $292.17 and its 200 day simple moving average is $333.51. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The company has a market capitalization of $950.63 billion, a price-to-earnings ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the business posted $0.45 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joseph Gebbia acquired 4,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was bought at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the transaction, the director now directly owns 4,111 shares of the company’s stock, valued at approximately $1,053,690.41. The trade was a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the chief financial officer now owns 1,950 shares in the company, valued at approximately $682,500. The trade was a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 815,945 shares of company stock valued at $273,059,215. 20.70% of the stock is 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.