Assetmark Inc. Has $122.92 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Assetmark Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 304,380 shares of the electric vehicle producer’s stock after buying an additional 37,033 shares during the quarter. Assetmark Inc.’s holdings in Tesla were worth $122,921,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. NewSquare Capital LLC raised its position in Tesla by 320.7% in the fourth quarter. NewSquare Capital LLC now owns 387 shares of the electric vehicle producer’s stock worth $156,000 after purchasing an additional 295 shares in the last quarter. J.Safra Asset Management Corp grew its stake in Tesla by 9.4% during the fourth quarter. J.Safra Asset Management Corp now owns 14,070 shares of the electric vehicle producer’s stock worth $5,873,000 after buying an additional 1,207 shares during the last quarter. Oak Grove Capital LLC grew its stake in Tesla by 1.4% during the fourth quarter. Oak Grove Capital LLC now owns 4,817 shares of the electric vehicle producer’s stock worth $1,945,000 after buying an additional 67 shares during the last quarter. Snider Financial Group bought a new stake in Tesla during the fourth quarter worth about $962,000. Finally, Triad Wealth Partners LLC bought a new stake in Tesla during the fourth quarter worth about $834,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Wells Fargo & Company upped their price objective on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research note on Monday. Wedbush set a $302.80 price target on shares of Tesla in a research note on Wednesday, February 26th. Finally, Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Wednesday, February 12th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $315.33.

Tesla Stock Performance

Shares of TSLA opened at $279.10 on Thursday. The firm has a 50-day moving average of $374.97 and a 200-day moving average of $318.13. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market cap of $897.73 billion, a PE ratio of 136.81, 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 current ratio of 2.02 and a quick ratio of 1.61.

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

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 422,386 shares of company stock valued at $153,916,675 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.