New Covenant Trust Company N.A. Sells 79 Shares of Tesla, Inc. (NASDAQ:TSLA)

New Covenant Trust Company N.A. reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,504 shares of the electric vehicle producer’s stock after selling 79 shares during the period. New Covenant Trust Company N.A.’s holdings in Tesla were worth $495,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Integris Wealth Management LLC boosted its holdings in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the period. Echo Wealth Management LLC boosted its stake in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co grew its holdings in shares of Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the last quarter. Cypress Capital Group increased its stake in shares of Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 47 shares during the period. Finally, Keystone Wealth Services LLC raised its holdings in Tesla by 0.8% during the 2nd quarter. Keystone Wealth Services LLC now owns 5,993 shares of the electric vehicle producer’s stock valued at $1,186,000 after buying an additional 49 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction 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. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Tesla Stock Up 3.8 %

Shares of TSLA stock traded up $7.83 during mid-day trading on Friday, hitting $214.11. The company’s stock had a trading volume of 63,370,608 shares, compared to its average volume of 97,535,023. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The stock has a market cap of $684.00 billion, a price-to-earnings ratio of 54.62, a PEG ratio of 5.52 and a beta of 2.31. The business has a 50-day moving average price of $221.38 and a 200 day moving average price of $192.64.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. Research analysts predict that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on TSLA. Robert W. Baird restated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Stifel Nicolaus initiated coverage on Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective on the stock. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $300.00 price objective on shares of Tesla in a research report on Monday, August 19th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $204.21.

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.