Everence Capital Management Inc. Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Everence Capital Management Inc. boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 69,260 shares of the electric vehicle producer’s stock after purchasing an additional 8,980 shares during the period. Tesla makes up 1.2% of Everence Capital Management Inc.’s investment portfolio, making the stock its 13th largest holding. Everence Capital Management Inc.’s holdings in Tesla were worth $17,210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Wyrmwood Management LLC purchased a new stake in Tesla during the fourth quarter worth about $25,000. Lam Group Inc. purchased a new stake in Tesla during the fourth quarter worth about $25,000. Alpha Paradigm Partners LLC purchased a new stake in Tesla during the third quarter worth about $27,000. Perkins Coie Trust Co raised its position in Tesla by 72.0% during the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 54 shares during the last quarter. Finally, Mendota Financial Group LLC raised its position in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock traded down $4.47 during trading hours on Tuesday, reaching $157.01. The company’s stock had a trading volume of 88,715,972 shares, compared to its average volume of 102,042,852. The company’s 50 day simple moving average is $181.44 and its 200 day simple moving average is $213.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The stock has a market cap of $500.04 billion, a P/E ratio of 36.36, a price-to-earnings-growth ratio of 4.50 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share. As a group, analysts expect that Tesla, Inc. will post 1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TSLA shares. JPMorgan Chase & Co. cut their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Piper Sandler cut their target price on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Redburn Atlantic began coverage on shares of Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price for the company. Jefferies Financial Group cut their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Finally, UBS Group cut their price objective on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $198.81.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. Insiders own 20.90% of the company’s stock.

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.