New Covenant Trust Company N.A. Sells 57 Shares of Tesla, Inc. (NASDAQ:TSLA)

New Covenant Trust Company N.A. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,426 shares of the electric vehicle producer’s stock after selling 57 shares during the quarter. Tesla accounts for 1.0% of New Covenant Trust Company N.A.’s portfolio, making the stock its 20th biggest holding. New Covenant Trust Company N.A.’s holdings in Tesla were worth $1,013,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the 3rd quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the 4th quarter worth approximately $46,000. PayPay Securities Corp boosted its holdings in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Finally, Finley Financial LLC purchased a new position in shares of Tesla in the 4th quarter worth approximately $64,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $279.10 on Thursday. The business’s 50 day moving average is $374.97 and its two-hundred day moving average is $318.13. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market capitalization of $897.73 billion, a P/E ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results 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%. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TSLA. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Guggenheim restated a “sell” rating on shares of Tesla in a report on Tuesday, February 25th. Mizuho restated an “outperform” rating and set a $515.00 price objective on shares of Tesla in a report on Thursday, January 30th. UBS Group restated a “neutral” rating on shares of Tesla in a report on Tuesday. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $315.33.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value 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. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. This represents a 20.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 422,386 shares of company stock valued at $153,916,675 over the last quarter. 20.70% of the stock is currently owned by insiders.

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.