Everence Capital Management Inc. Has $15.53 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Everence Capital Management Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,370 shares of the electric vehicle producer’s stock after selling 4,950 shares during the period. Tesla makes up approximately 1.0% of Everence Capital Management Inc.’s investment portfolio, making the stock its 17th largest position. Everence Capital Management Inc.’s holdings in Tesla were worth $15,533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank & Trust Co acquired a new stake in Tesla during the second quarter worth about $25,000. Clean Yield Group increased its stake in Tesla by 60.0% in 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 raised its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Tesla during the second quarter worth $26,000. Finally, M&R Capital Management Inc. boosted its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $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.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $230.00 price objective on shares of Tesla in a research report on Friday, October 11th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Stifel Nicolaus initiated coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective on the stock. TD Cowen upped their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Nine 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $210.72.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Down 1.1 %

NASDAQ:TSLA traded down $2.36 during mid-day trading on Monday, reaching $218.34. 34,138,941 shares of the company’s stock traded hands, compared to its average volume of 94,065,258. The firm has a market capitalization of $697.52 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 6.31 and a beta of 2.29. The company has a 50 day moving average price of $227.67 and a 200-day moving average price of $205.65. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the business posted $0.78 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

About Tesla

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.