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

New Covenant Trust Company N.A. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,426 shares of the electric vehicle producer’s stock after selling 57 shares during the period. Tesla comprises approximately 1.0% of New Covenant Trust Company N.A.’s investment portfolio, making the stock its 20th largest holding. New Covenant Trust Company N.A.’s holdings in Tesla were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla during the 4th quarter valued at $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter worth about $35,000. Finally, Finley Financial LLC purchased a new stake in Tesla in the 4th quarter worth about $64,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Barclays lifted their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Finally, Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $315.33.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. This trade represents a 20.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 422,386 shares of company stock valued at $153,916,675. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 2.6 %

Tesla stock opened at $279.10 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market capitalization of $897.73 billion, a PE ratio of 136.81, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The business’s fifty day moving average is $374.97 and its 200 day moving average is $318.13.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.