Tesla, Inc. (NASDAQ:TSLA) Position Boosted by Everence Capital Management Inc.

Everence Capital Management Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,790 shares of the electric vehicle producer’s stock after acquiring an additional 5,420 shares during the quarter. Tesla accounts for 1.7% of Everence Capital Management Inc.’s portfolio, making the stock its 12th largest position. Everence Capital Management Inc.’s holdings in Tesla were worth $26,165,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter valued at about $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the 3rd quarter worth approximately $35,000. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 514,886 shares of company stock worth $169,393,831 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TSLA. Stifel Nicolaus boosted their target price on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Wedbush reissued an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research note on Monday, November 18th. Wells Fargo & Company raised their target price on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $283.39.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $16.32 on Friday, hitting $395.60. 38,203,675 shares of the company were exchanged, compared to its average volume of 70,498,711. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company’s 50 day moving average price is $359.54 and its two-hundred day moving average price is $271.59. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.38, a PEG ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last posted 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 firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. Research analysts expect that Tesla, Inc. will post 1.99 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.