Tidemark LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Tidemark LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.8% in the third quarter, Holdings Channel.com reports. The fund owned 12,223 shares of the electric vehicle producer’s stock after selling 1,630 shares during the quarter. Tesla comprises about 1.3% of Tidemark LLC’s portfolio, making the stock its 15th largest holding. Tidemark LLC’s holdings in Tesla were worth $3,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Swiss National Bank raised its holdings in shares of Tesla by 0.4% in the third quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock valued at $2,229,003,000 after buying an additional 33,100 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock valued at $1,355,939,000 after buying an additional 688,717 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 3.1 %

TSLA stock opened at $320.72 on Monday. The company’s 50 day simple moving average is $252.30 and its 200-day simple moving average is $221.01. The firm has a market capitalization of $1.03 trillion, a PE ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. Equities analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, Guggenheim increased their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $230.18.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s 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 approximately $26,258,000. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,797 shares of company stock valued at $57,616,781. 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.